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Risk Management Agreement Template for Singapore

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Key Requirements PROMPT example:

Risk Management Agreement

"I need a Risk Management Agreement for my fintech startup based in Singapore, focusing on cybersecurity risk management services to be provided by an external consultant, with the agreement starting from March 2025 and including specific provisions for data protection and regulatory compliance."

Document background
The Risk Management Agreement is essential for organizations seeking to formalize their risk management framework in compliance with Singapore regulations. This document is particularly relevant in today's complex business environment where systematic risk identification, assessment, and mitigation are crucial. The agreement typically covers comprehensive risk management services, including operational, financial, and strategic risks, while ensuring compliance with Singapore's regulatory requirements, including MAS guidelines where applicable. It establishes clear responsibilities, service levels, and accountability measures between the service provider and the client.
Suggested Sections

1. Parties: Identification of contracting parties and their legal status

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

3. Definitions: Key terms used throughout the agreement

4. Scope of Services: Detailed description of risk management services to be provided

5. Service Provider Obligations: Key responsibilities and duties of the risk management service provider

6. Client Obligations: Responsibilities and duties of the client

7. Fees and Payment: Financial terms and payment conditions

8. Confidentiality: Protection of sensitive information

9. Term and Termination: Duration and conditions for ending the agreement

10. Governing Law: Specification of Singapore law as governing law

Optional Sections

1. Data Protection: PDPA compliance provisions for handling personal data

2. Regulatory Compliance: Industry-specific compliance requirements for regulated sectors

3. Insurance: Insurance requirements and coverage specifications

4. Business Continuity: Business continuity and disaster recovery provisions for critical services

Suggested Schedules

1. Schedule 1 - Service Level Agreement: Detailed service levels and performance metrics

2. Schedule 2 - Fee Schedule: Detailed breakdown of fees and charges

3. Schedule 3 - Risk Assessment Framework: Methodology and approach for risk assessment

4. Schedule 4 - Reporting Templates: Standard formats for risk reporting

5. Schedule 5 - Contact Details: Key personnel and escalation contacts

6. Schedule 6 - Compliance Requirements: Detailed regulatory requirements and standards

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

Securities and Futures Act (SFA): Primary Singapore legislation governing securities, futures, and financial markets activities, including risk management requirements for regulated entities

Financial Advisers Act (FAA): Key legislation regulating financial advisory services and requirements for risk management in financial advice

Companies Act: Primary legislation governing corporate entities in Singapore, including corporate governance and risk management obligations

Contract Law Act: Fundamental legislation governing contractual relationships and obligations in Singapore

Personal Data Protection Act (PDPA): Legislation governing the collection, use, and disclosure of personal data, including data risk management requirements

MAS Guidelines on Risk Management Practices: Regulatory guidelines issued by the Monetary Authority of Singapore specifying risk management standards and best practices

MAS Technology Risk Management Guidelines: Specific guidelines for managing technology risks in regulated entities under MAS supervision

Enterprise Risk Management Guidelines: Framework for implementing comprehensive risk management practices across an organization

Business Continuity Management Guidelines: Standards for ensuring business continuity and managing operational risks

MAS Notices and Guidelines: Specific regulatory requirements and guidance for financial institutions operating in Singapore

Cybersecurity Act: Legislation governing cybersecurity requirements for critical infrastructure and essential services

ISO 31000: International standard providing principles and guidelines for effective risk management

Basel Framework: International banking standards including risk management requirements for financial institutions

Duty of Care Provisions: Legal obligations regarding the standard of care required in risk management services

Confidentiality Obligations: Requirements for protecting confidential information and trade secrets

Liability Limitations: Provisions defining the scope and limitations of liability in risk management services

Force Majeure Provisions: Clauses addressing unforeseeable circumstances that prevent fulfillment of contract obligations

Dispute Resolution Mechanisms: Procedures and frameworks for resolving disputes under Singapore law

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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