Document background
The General Terms Agreement is designed to serve as a foundational document for establishing and managing ongoing business relationships under Malaysian law. It is particularly useful when parties anticipate multiple transactions or a continuing business relationship that requires a standardized framework. This document incorporates key provisions required under Malaysian legislation, including the Contracts Act 1950 and other relevant commercial laws, while maintaining flexibility through modular schedules and appendices. The agreement typically covers essential aspects such as scope of services, payment terms, confidentiality, intellectual property rights, and dispute resolution, making it suitable for various commercial arrangements from simple supply relationships to complex service agreements. It can be customized to accommodate specific industry requirements while maintaining compliance with Malaysian legal requirements.
