This Cost Sharing Contract is essential for organizations operating in Malaysia that need to formally structure their cost sharing arrangements. The document is particularly relevant when multiple entities need to share operational, administrative, or project-related costs in a transparent and legally compliant manner. It addresses key aspects required under Malaysian law, including cost allocation methodologies, payment mechanisms, governance structures, and compliance requirements. The agreement is commonly used in shared service arrangements, joint ventures, group company structures, and collaborative projects where resources and costs need to be efficiently allocated among participating parties. It includes provisions for financial reporting, audit rights, and dispute resolution mechanisms tailored to the Malaysian business environment.
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1. Parties: Identification and details of all parties entering into the cost sharing agreement
2. Background: Context of the agreement, relationship between parties, and purpose of the cost sharing arrangement
3. Definitions: Detailed definitions of terms used throughout the agreement
4. Scope of Cost Sharing: Clear outline of what costs are to be shared and the nature of shared activities
5. Cost Allocation Method: Detailed methodology for calculating and allocating costs between parties
6. Payment Terms: Timing, method, and currency of payments, including invoicing procedures
7. Accounting and Records: Requirements for maintaining financial records, audit rights, and reporting obligations
8. Governance Structure: Decision-making process and management of the cost sharing arrangement
9. Term and Termination: Duration of the agreement and circumstances for termination
10. Confidentiality: Protection of confidential information shared during the arrangement
11. Dispute Resolution: Process for resolving disagreements between parties
12. General Provisions: Standard legal clauses including notices, amendments, governing law, etc.
1. Intellectual Property Rights: Required when the cost sharing involves development or use of intellectual property
2. Tax Considerations: Needed when specific tax implications need to be addressed
3. Force Majeure: Include when parties want specific provisions for unforeseen circumstances
4. Insurance Requirements: Necessary when shared activities require specific insurance coverage
5. Personnel and Resources: Include when sharing involves human resources or specific assets
6. Environmental Compliance: Required when shared activities have environmental implications
7. Change Control Procedure: Include for complex arrangements requiring formal change management
1. Schedule A - Cost Allocation Formula: Detailed breakdown of cost allocation methodology and calculations
2. Schedule B - Shared Services/Activities: Comprehensive list of services or activities covered under the agreement
3. Schedule C - Budget and Financial Projections: Detailed budget breakdown and financial forecasts
4. Schedule D - Operational Procedures: Step-by-step procedures for day-to-day operations
5. Schedule E - Key Personnel: List of key contacts and their roles from each party
6. Schedule F - Service Levels: Performance metrics and standards for shared services
7. Appendix 1 - Reporting Ƶ: Standard templates for financial and operational reporting
8. Appendix 2 - Governance Framework: Detailed structure and procedures for governance committees
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