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Preferred Supplier Agreement

Preferred Supplier Agreement Template for Singapore

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Key Requirements PROMPT example:

Preferred Supplier Agreement

"I need a Preferred Supplier Agreement for my Singapore-based technology company to secure a long-term hardware supplier relationship with volume discounts and strict quality control measures, including quarterly performance reviews starting from March 2025."

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What is a Preferred Supplier Agreement?

The Preferred Supplier Agreement is commonly used when organizations seek to establish strategic, long-term supply relationships with key vendors. This document, governed by Singapore law, formalizes preferential arrangements including priority supply, volume-based pricing, and service level commitments. It's particularly relevant for businesses requiring regular, reliable access to goods or services, and includes comprehensive terms covering supply obligations, quality standards, pricing mechanisms, and performance metrics. The agreement ensures compliance with Singapore's commercial laws while providing a robust framework for ongoing supply relationships.

What sections should be included in a Preferred Supplier Agreement?

1. Parties: Identification and details of the supplier and purchaser

2. Background/Recitals: Context of the agreement and relationship between parties

3. Definitions and Interpretation: Key terms and their meanings used throughout the agreement

4. Appointment and Scope: Terms of supplier appointment and scope of supply arrangement

5. Supply Obligations: Core obligations of the supplier including quality, quantity, and delivery terms

6. Pricing and Payment: Price structure, payment terms, invoicing requirements

7. Term and Termination: Duration of agreement and circumstances for termination

8. Warranties and Representations: Standard warranties regarding capacity, quality, and compliance

9. Liability and Indemnity: Allocation of risks and liability between parties

10. Confidentiality: Protection of confidential information

11. Governing Law and Jurisdiction: Applicable law and dispute resolution mechanisms

What sections are optional to include in a Preferred Supplier Agreement?

1. Performance Metrics: Specific KPIs and service levels for measuring supplier performance

2. Data Protection: PDPA compliance obligations and data handling requirements

3. Insurance: Specific insurance coverage requirements and minimum coverage amounts

4. Intellectual Property: IP ownership, licensing arrangements and protection measures

5. Force Majeure: Provisions for handling unforeseen circumstances and their impact on obligations

What schedules should be included in a Preferred Supplier Agreement?

1. Products/Services Schedule: Detailed description of goods/services to be supplied including specifications

2. Pricing Schedule: Detailed pricing structure, including any volume discounts or pricing mechanisms

3. Service Levels: Detailed performance metrics, measurement criteria and reporting requirements

4. Technical Specifications: Detailed technical requirements and standards for products/services

5. Key Personnel: List of key contacts, responsible personnel and escalation matrix

6. Compliance Requirements: Specific regulatory, industry and quality compliance requirements

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions


































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Industries

Singapore Contracts Act (Cap. 50): Primary legislation governing contract formation, validity, and enforcement in Singapore, including essential elements like offer, acceptance, consideration, and contractual obligations.

Sale of Goods Act (Cap. 393): Regulates contracts relating to the sale of goods, including conditions and warranties, transfer of property, and rights of unpaid sellers.

Unfair Contract Terms Act (Cap. 396): Controls the use of unfair terms in contracts, particularly those that exclude or restrict liability.

Competition Act (Cap. 50B): Ensures fair competition and prohibits anti-competitive practices in business relationships and agreements.

Companies Act (Cap. 50): Governs corporate entities' operations and their ability to enter into contracts and business relationships.

Goods and Services Tax Act (Cap. 117A): Regulates taxation aspects of goods and services transactions in Singapore.

Electronic Transactions Act (Cap. 88): Provides legal framework for electronic contracts and digital signatures, ensuring their validity and enforceability.

Personal Data Protection Act 2012 (PDPA): Governs the collection, use, disclosure, and care of personal data in business transactions and relationships.

Regulation of Imports and Exports Act: Controls and regulates the import and export of goods in Singapore, including licensing requirements.

Consumer Protection (Fair Trading) Act: Protects consumer interests and ensures fair trading practices, particularly relevant if end users are consumers.

Patents Act: Protects intellectual property rights related to inventions and innovations that may be involved in the supply agreement.

Trade Marks Act: Protects distinctive signs, brands, and marks used in trade and commerce.

Copyright Act: Protects original works and content that may be part of the supply arrangement.

Arbitration Act: Provides framework for arbitration as a dispute resolution mechanism in commercial contracts.

Prevention of Corruption Act: Prevents and penalizes corrupt practices in business relationships and transactions.

Employment Act: Governs employment relationships and labor standards if service provision involves manpower.

Environmental Protection and Management Act: Regulates environmental impact and compliance requirements for goods and services that may affect the environment.

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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