The Master Framework Agreement serves as an umbrella agreement that streamlines repeated transactions between parties by establishing standardized terms and conditions. It is particularly useful for businesses operating in Singapore that anticipate multiple transactions or service engagements over time. This agreement type reduces negotiation time and transaction costs while ensuring consistency across dealings. The framework incorporates Singapore's legal requirements and commercial practices, providing a robust foundation for business relationships while maintaining flexibility for specific transaction details through subsequent order forms or statements of work.
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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. Scope of Agreement: Framework terms and general principles of cooperation
5. Term and Termination: Duration and termination provisions
6. Ordering Process: Procedures for placing and accepting orders
7. Pricing and Payment: Commercial terms and payment conditions
8. Confidentiality: Protection of confidential information
9. Governing Law and Jurisdiction: Choice of law and dispute resolution
1. Service Levels: Performance standards and metrics - include when specific performance standards need to be maintained
2. Data Protection: PDPA compliance provisions - include when personal data processing is involved
3. Intellectual Property: IP ownership and licensing terms - include when IP rights are being created or licensed
4. Force Majeure: Provisions for unforeseen circumstances - include when long-term commitments are involved
1. Services Description Schedule: Detailed description of services to be provided
2. Pricing Schedule: Detailed pricing structure and rates
3. Service Levels Schedule: Detailed performance metrics and KPIs
4. Form of Order: Template for individual orders under the framework
5. Change Control Procedure: Process for implementing changes to services or terms
6. Data Processing Agreement: PDPA compliance details if personal data is processed
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