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Terminate Property Management Agreement Template for Singapore

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Key Requirements PROMPT example:

Terminate Property Management Agreement Template

I need a Terminate Property Management Agreement Template for a commercial building in Singapore, where we're ending our relationship with ABC Management due to poor performance, with termination to be effective March 1, 2025, including specific provisions for the handover of security systems and maintenance records.

Document background
The Terminate Property Management Agreement Template is designed for use when either party wishes to end an existing property management arrangement in Singapore. This document ensures compliance with Singapore's property management regulations while protecting both parties' interests during the termination process. It covers essential elements such as notice periods, handover procedures, final accounting, and ongoing obligations. The template is particularly useful when transitioning between property managers or when property owners decide to change their management structure.
Suggested Sections

1. Parties: Identification of property owner and management company

2. Background: Reference to original agreement and reason for termination

3. Definitions: Key terms used in the termination agreement

4. Termination Date: Effective date of termination and notice period details

5. Handover Obligations: Requirements for transfer of property, documents, and responsibilities

6. Final Accounting: Settlement of accounts and financial matters

7. Release and Discharge: Mutual release of obligations under the original agreement

Optional Sections

1. Transition Period: Terms governing handover period to new management when immediate termination is not practical

2. Confidentiality: Ongoing obligations regarding confidential information when sensitive information was shared during management

3. Dispute Resolution: Process for resolving any disputes post-termination when parties anticipate potential disputes

4. Survival Clauses: Provisions that continue after termination when certain obligations need to continue

Suggested Schedules

1. Schedule of Property Assets: List of property assets to be transferred

2. Financial Statement: Final account statement and outstanding amounts

3. Handover Checklist: Detailed list of items and documents to be transferred

4. Original Agreement: Copy of the property management agreement being terminated

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

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Industries

Estate Agents Act 2010 (Cap. 95A): Primary legislation governing property agencies and agents in Singapore, including licensing requirements and regulations for property management services

Conveyancing and Law of Property Act (Cap. 61): Fundamental legislation establishing property law principles and defining rights and obligations related to property management in Singapore

Building Maintenance and Strata Management Act (BMSA): Legislation governing strata-titled properties, management corporation responsibilities, and common property management requirements

Contract Law (Common Law principles): Legal framework governing contract formation, validity, termination requirements, notice periods, and breach of contract provisions

Personal Data Protection Act 2012 (PDPA): Legislation governing the collection, use, disclosure, and disposal of personal data in property management context

Security and Employment Regulations: Regulations pertaining to security services and employment matters for property management staff

Fire Safety Act: Legislation ensuring compliance with fire safety requirements and proper handover of related certificates and documentation

Environmental Public Health Act: Legislation governing maintenance standards, cleanliness requirements, and waste management responsibilities in property management

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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