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Engagement Agreement
"I need an Engagement Agreement for a Singapore-based IT consulting firm providing software development services to a multinational bank, with specific provisions for data protection and source code ownership, starting from March 2025."
1. Parties: Identification and details of all parties to the agreement including their registered addresses and company registration numbers where applicable
2. Background: Context and purpose of the engagement, explaining the relationship between parties and objectives
3. Definitions: Key terms used throughout the agreement and their specific meanings in the context of this engagement
4. Scope of Services: Detailed description of services to be provided, including deliverables and timelines
5. Term and Termination: Duration of engagement, renewal terms, and circumstances under which the agreement may be terminated
6. Fees and Payment: Compensation structure, payment terms, expenses, and invoicing procedures
7. Confidentiality: Protection of confidential information, including duration of obligations and permitted disclosures
8. Governing Law: Specification of Singapore law as governing law and jurisdiction for dispute resolution
1. Intellectual Property Rights: Provisions regarding ownership, transfer, or licensing of intellectual property created during the engagement
2. Non-Competition: Restrictions on competitive activities during and after the engagement period
3. Insurance: Requirements for professional indemnity insurance and other relevant coverage
4. Data Protection: Compliance with Singapore Personal Data Protection Act and data handling procedures
5. Force Majeure: Provisions for unforeseen circumstances preventing performance of obligations
6. Assignment and Subcontracting: Terms regarding the ability to transfer rights or obligations under the agreement
1. Schedule 1 - Scope of Services: Detailed breakdown of services, deliverables, and performance requirements
2. Schedule 2 - Fee Schedule: Comprehensive fee structure, payment milestones, and expense policies
3. Schedule 3 - Service Levels: Performance metrics, quality standards, and response times
4. Schedule 4 - Key Personnel: Details of key team members, their roles, and replacement procedures
5. Schedule 5 - Compliance Requirements: Industry-specific regulatory requirements and compliance procedures
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