Price Agreements are essential commercial documents used to establish clear pricing arrangements between parties conducting business in Singapore. These agreements are particularly relevant when parties engage in ongoing business relationships requiring stable and predictable pricing structures. A Price Agreement typically includes detailed pricing mechanisms, payment terms, volume commitments, and price adjustment provisions, all aligned with Singapore's legal framework. This document type is crucial for businesses seeking to manage price-related risks and ensure compliance with Singapore's competition laws and fair trading regulations.
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1. Parties: Identification and details of contracting parties
2. Background: Context and purpose of the agreement
3. Definitions: Key terms used throughout the agreement
4. Pricing Terms: Base prices, adjustment mechanisms, payment terms
5. Duration: Term of agreement and renewal provisions
6. Obligations: Core responsibilities of each party
7. Termination: Conditions for ending the agreement
1. Volume Commitments: Minimum purchase obligations - used for bulk purchase agreements
2. Exclusivity: Exclusive supply/purchase arrangements - used when parties agree to exclusive dealing
3. Force Majeure: Events beyond parties' control - recommended for long-term agreements
4. Price Review Mechanism: Procedures for price adjustments - used for agreements exceeding one year
1. Schedule 1 - Price List: Detailed breakdown of prices for different items/services
2. Schedule 2 - Product Specifications: Technical details of products covered
3. Schedule 3 - Service Levels: Performance metrics and standards
4. Schedule 4 - Price Adjustment Formula: Calculation method for price changes
5. Schedule 5 - Contact Details: Key personnel and communication protocols
Relevant legal definitions
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