The Simple Cost Sharing Agreement Template is designed for use in Singapore when two or more parties need to formalize arrangements for sharing specific costs or expenses. This document is particularly relevant in scenarios involving shared facilities, services, or resources, and ensures compliance with Singapore's regulatory framework. It outlines cost allocation methodologies, payment schedules, and responsibilities while protecting all parties' interests through clear terms and conditions. The template is adaptable for various business contexts while maintaining legal compliance with Singapore's Contract Act and related legislation.
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1. Parties: Identification and details of all parties involved in the cost sharing arrangement
2. Background: Context and purpose of the cost sharing arrangement
3. Definitions: Key terms used throughout the agreement
4. Scope of Cost Sharing: Detailed description of costs to be shared
5. Cost Allocation Method: Methodology for calculating and allocating shared costs
6. Payment Terms: Timeline and method of payments
7. Term and Termination: Duration of agreement and termination provisions
1. Intellectual Property Rights: Required when shared costs involve IP development or usage
2. Data Protection: Provisions for handling personal or sensitive data
3. Force Majeure: Provisions for unforeseen circumstances affecting the cost sharing arrangement
1. Schedule of Shared Costs: Detailed breakdown of costs to be shared
2. Allocation Formula: Mathematical formula or methodology for cost allocation
3. Payment Schedule: Detailed timeline of payments and amounts
4. Service Level Agreement: Performance standards and metrics if the cost sharing involves service provision between parties
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