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Development License Agreement
"I need a Development License Agreement for my Singapore-based fintech company to license our payment processing API to a third-party developer who will create custom integrations for banking clients, with the agreement to commence from March 2025."
1. Parties: Identification and details of the licensor and licensee
2. Background: Context of the agreement and brief description of the development project
3. Definitions: Key terms used throughout the agreement
4. License Grant: Scope and nature of the development license
5. Intellectual Property Rights: Ownership and rights over developed materials
6. Development Obligations: Responsibilities and commitments of both parties
7. Payment Terms: Financial arrangements including fees, royalties, and payment schedule
8. Confidentiality: Protection of confidential information
9. Term and Termination: Duration and termination conditions
1. Source Code Escrow: Terms for source code protection when dealing with critical software development
2. Export Controls: Compliance with export regulations when technology may be subject to export restrictions
3. Training and Support: Terms for technical support and training when ongoing support is part of the agreement
4. Data Protection: PDPA compliance measures when personal data processing is involved
1. Technical Specifications: Detailed technical requirements and specifications
2. Development Milestones: Timeline and deliverables schedule
3. Fee Schedule: Detailed breakdown of fees and payment terms
4. Acceptance Testing Procedures: Criteria and procedures for accepting deliverables
5. Licensed Materials: List of materials covered under the license
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