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Cyber Security Agreement
"I need a Cyber Security Agreement for my fintech startup in Singapore to engage a security consulting firm for penetration testing and ongoing security monitoring, with specific provisions for handling payment data and compliance with MAS guidelines starting March 2025."
1. Parties: Identification and details of the contracting parties
2. Background: Context and purpose of the agreement, including reference to key Singapore cybersecurity legislation
3. Definitions: Key terms used throughout the agreement, including specific cybersecurity and technical terminology
4. Scope of Services: Detailed description of cybersecurity services to be provided, aligned with Singapore's regulatory requirements
5. Security Requirements: Specific security measures and standards to be implemented, including compliance with Singapore's Cybersecurity Act and PDPA
6. Incident Response: Procedures for handling security incidents, including mandatory reporting requirements under Singapore law
7. Confidentiality: Protection of sensitive information and compliance with data protection obligations
8. Term and Termination: Duration of the agreement and conditions for termination
9. Liability and Indemnification: Allocation of risks and responsibilities, including cybersecurity incident liability
1. Service Level Agreement: Specific performance metrics and standards for cybersecurity services
2. Cross-border Data Transfers: Rules and compliance requirements for transferring data outside Singapore
3. Industry-Specific Compliance: Additional requirements for regulated sectors such as financial services or healthcare
1. Technical Requirements Schedule: Detailed technical specifications and security standards to be maintained
2. Service Level Metrics: Specific performance indicators and measurement criteria for cybersecurity services
3. Incident Response Plan: Detailed procedures and protocols for handling security incidents
4. Data Processing Agreement: Specific terms for handling personal data in compliance with PDPA
5. Security Audit Requirements: Schedule of security audits, assessments, and compliance reviews
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