Document background
The Advisory Engagement Letter is a crucial document used in Malaysian professional services contexts to formally establish and define the terms of an advisory relationship. It serves as the primary contract document between professional advisors and their clients, whether for one-off projects or ongoing advisory services. The document must comply with Malaysian law, particularly the Contracts Act 1950 and relevant professional services regulations, while incorporating international best practices for advisory services. It typically includes detailed scope of services, fee arrangements, professional obligations, and risk allocation provisions. This type of engagement letter is essential for protecting both parties' interests and ensuring clarity in professional relationships, particularly important in Malaysia's growing professional services sector.
