The Flat Rate Agreement is designed for situations where parties wish to establish a clear, predetermined payment structure for services or deliverables in Singapore. This document is particularly useful when the scope of work can be clearly defined and parties prefer cost certainty over variable pricing. It incorporates Singapore's contractual requirements and commonly includes detailed specifications of deliverables, payment schedules, and performance standards. The agreement is especially relevant for project-based work where budget predictability is essential.
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Key Requirements PROMPT example:
Flat Rate Agreement
"I need a Flat Rate Agreement for a web development project where my company will pay SGD 50,000 for a new e-commerce platform, with completion scheduled for March 2025 and monthly milestone payments."
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 Services: Detailed description of services/work to be provided
5. Payment Terms: Flat rate amount, payment schedule, and method
6. Duration: Term of the agreement
7. Termination: Conditions for ending the agreement
1. Intellectual Property: Rights and ownership of IP created during the agreement. Include when deliverables include creative or technical works
2. Confidentiality: Non-disclosure obligations and protection of sensitive information. Include when confidential information will be shared
3. Force Majeure: Provisions for unforeseen circumstances preventing performance. Recommended for longer-term or high-value agreements
4. Insurance: Insurance requirements and coverage obligations. Include when work involves physical risk or valuable assets
1. Schedule of Rates: Detailed breakdown of the flat rate and payment milestones
2. Scope of Work: Detailed specifications of deliverables and performance requirements
3. Service Level Agreement: Performance metrics, standards, and service quality requirements
4. Contact Details: List of key personnel and communication protocols for both parties
Authors
Relevant legal definitions
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