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Intercompany Shared Services Agreement Template for Singapore

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Key Requirements PROMPT example:

Intercompany Shared Services Agreement

"I need an Intercompany Shared Services Agreement for our Singapore subsidiary to provide IT and HR services to our regional affiliates, with specific focus on data protection compliance and transfer pricing documentation, to be effective from March 2025."

Document background
The Intercompany Shared Services Agreement is essential for corporate groups operating in Singapore seeking to formalize their internal service arrangements. This document ensures compliance with Singapore's regulatory requirements, particularly regarding transfer pricing, data protection, and corporate governance. It establishes clear service expectations, pricing mechanisms, and performance metrics while protecting both parties' interests. The agreement is particularly important in the context of Singapore's strict regulatory environment and its position as a regional business hub.
Suggested Sections

1. Parties: Details of the service provider and recipient companies

2. Background/Recitals: Context of the agreement and relationship between parties

3. Definitions and Interpretation: Key terms used throughout the agreement

4. Services: Detailed description of services to be provided

5. Service Levels: Performance standards and metrics

6. Charges and Payment: Pricing, payment terms, and invoicing procedures

7. Term and Termination: Duration and termination provisions

8. Confidentiality: Protection of confidential information

9. Data Protection: PDPA compliance and data handling requirements

10. Governing Law and Jurisdiction: Singapore law and dispute resolution provisions

Optional Sections

1. Intellectual Property Rights: IP ownership and licenses - include when services involve creation or use of IP

2. Staff Transfer: Employee transfer provisions - include when services involve staff secondment or transfer

3. Business Continuity: Disaster recovery and business continuity provisions - include for critical services

4. Compliance with Laws: Specific regulatory compliance requirements - include for regulated industries

5. Anti-Bribery and Corruption: Anti-corruption compliance provisions - include for international arrangements

Suggested Schedules

1. Service Description Schedule: Detailed description of each service category

2. Service Levels Schedule: Detailed KPIs and performance metrics

3. Pricing Schedule: Detailed pricing structure and calculations

4. Data Processing Schedule: Detailed data handling procedures and requirements

5. Transfer Pricing Documentation: Documentation supporting arm's length pricing

6. Contact Details: Key personnel and escalation contacts

7. Business Continuity Plan: Detailed continuity procedures if required

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

Companies Act (Cap. 50): Primary legislation governing corporate entities in Singapore, affecting corporate capacity, authority, and inter-company relationships

Contract Law: Common law principles governing contract formation, execution, and enforcement in Singapore

Electronic Transactions Act: Governs electronic transactions and digital signatures in commercial agreements

Competition Act (Cap. 50B): Regulates anti-competitive practices and ensures fair market competition between related entities

Income Tax Act: Governs taxation of income, including treatment of inter-company transactions and transfer pricing

Goods and Services Tax Act: Regulates GST implications for shared services between related companies

Transfer Pricing Guidelines: IRAS guidelines ensuring arm's length pricing for related party transactions

Employment Act: Governs employment relationships if staff are involved in shared services arrangements

Work Injury Compensation Act: Covers workplace injury compensation for employees involved in shared services

Central Provident Fund Act: Mandates social security savings system for employees in Singapore

Personal Data Protection Act 2012: Regulates collection, use, disclosure, and care of personal data

Banking Act: Regulates banking operations and financial services if included in shared services

Securities and Futures Act: Governs capital markets activities and financial services

Telecommunications Act: Regulates telecommunications services and infrastructure

Computer Misuse Act: Addresses cybersecurity and computer crimes

Cybersecurity Act 2018: Provides framework for protection of critical information infrastructure

Cross Border Privacy Rules: Standards for data privacy protection in cross-border data transfers

MAS Guidelines: Monetary Authority of Singapore regulatory guidelines for financial services sector

International Sanctions Compliance: Requirements for compliance with international sanctions and trade restrictions

Anti-Money Laundering Regulations: Regulations preventing money laundering and terrorist financing through corporate structures

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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