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Preferred Vendor Agreement Template for Singapore

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Key Requirements PROMPT example:

Preferred Vendor Agreement

"Need a Preferred Vendor Agreement for a Singapore-based technology supplier who will provide software development services to our company, with quarterly volume commitments and performance metrics, starting from March 2025."

Document background
The Preferred Vendor Agreement is commonly used when organizations seek to establish long-term, strategic relationships with key suppliers under Singapore jurisdiction. This document formalizes preferential trading arrangements, including special pricing, priority service, and specific performance standards. It's particularly valuable for businesses requiring regular supply of goods or services, where consistency, reliability, and preferred commercial terms are crucial. The agreement typically covers pricing structures, service levels, volume commitments, and quality standards, while ensuring compliance with Singapore's legal framework.
Suggested Sections

1. Parties: Identification of contracting parties and their details

2. Background: Context and purpose of the preferred vendor arrangement

3. Definitions: Key terms used throughout the agreement

4. Scope of Services/Products: Detailed description of products/services to be provided

5. Pricing and Payment Terms: Pricing structure, payment schedule, and related terms

6. Term and Termination: Duration of agreement and termination conditions

7. Performance Standards: Expected quality levels and performance metrics

8. Warranties and Representations: Standard warranties and representations from both parties

9. Confidentiality: Protection of confidential information and trade secrets

10. Liability and Indemnification: Allocation of risks and responsibilities between parties

Optional Sections

1. Exclusivity Provisions: Terms of exclusive arrangements, used when parties agree to exclusive supply arrangements

2. Volume Commitments: Minimum purchase obligations, included when specific volume commitments are agreed

3. Technology Integration: Technical requirements for system integration, used when electronic ordering or integration is required

4. Force Majeure: Provisions for unforeseen circumstances beyond parties' control

5. Insurance Requirements: Specific insurance coverage requirements for the vendor

Suggested Schedules

1. Product/Service Schedule: Detailed list of products/services covered under the agreement

2. Pricing Schedule: Detailed pricing structure and volume discounts

3. Service Level Agreement: Specific performance metrics and standards

4. Quality Assurance Requirements: Detailed quality standards and testing procedures

5. Key Personnel: List of key contacts and responsible personnel from both parties

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions





























Clauses






























Industries

Contracts Act (Cap. 53): Primary legislation governing the formation and enforcement of contracts in Singapore, including fundamental principles of contract law such as offer, acceptance, consideration, and contractual obligations

Electronic Transactions Act: Legislation governing electronic contracts and digital signatures, providing legal recognition and framework for electronic transactions

Sale of Goods Act (Cap. 393): Regulates the sale of goods, including terms, conditions, warranties and rights of buyers and sellers in commercial transactions

Supply of Goods Act: Establishes requirements for quality and fitness of goods in commercial transactions, including implied terms and conditions

Competition Act (Cap. 50B): Prohibits anti-competitive practices and ensures fair competition in Singapore's markets, including regulations on business agreements

Personal Data Protection Act 2012: Governs the collection, use, disclosure and care of personal data, establishing obligations for organizations handling such data

Consumer Protection (Fair Trading) Act: Protects consumers against unfair practices and provides framework for fair trading, particularly relevant if end users are consumers

Unfair Contract Terms Act: Controls the use of unfair terms in contracts, providing protection against unreasonable contractual provisions

Goods and Services Tax Act: Regulates the application and administration of GST in Singapore, important for pricing and payment terms

Companies Act: Primary legislation governing corporate entities in Singapore, including their business operations and transactions

Copyright Act: Protects intellectual property rights related to copyright, important for any content or materials involved in the vendor agreement

Trade Marks Act: Governs the protection and use of trademarks, relevant for branding and intellectual property aspects of the agreement

Patents Act: Protects inventions and innovative processes, relevant if the vendor agreement involves patented technology or processes

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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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