Placement Fee Agreement Template for Singapore

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Key Requirements PROMPT example:

Placement Fee Agreement

"Need a Placement Fee Agreement for our tech recruitment agency in Singapore, covering both permanent and contract roles, with a replacement guarantee period of 3 months and volume-based discounts for clients placing more than 5 hires per year."

What is a Placement Fee Agreement?

The Placement Fee Agreement is essential for businesses in Singapore engaging recruitment agencies for talent acquisition. This document establishes the commercial relationship between employment agencies licensed under Singapore's Employment Agencies Act and their client companies. It outlines placement fees, payment structures, and service obligations while ensuring compliance with Singapore's regulatory framework. The agreement is particularly important as it provides clarity on fee calculations, refund policies, and replacement guarantees, protecting both parties' interests in the recruitment process.

What sections should be included in a Placement Fee Agreement?

1. Parties: Identifies the employment agency and the client company, including full legal names and registered addresses

2. Background: Sets out the context: client seeking recruitment services and agency's capability to provide them

3. Definitions: Defines key terms used throughout the agreement, including 'Candidate', 'Placement', 'Introduction', 'Remuneration'

4. Services: Details the recruitment services to be provided by the agency

5. Fees and Payment Terms: Specifies placement fee structure, calculation method, payment timeline, and invoicing process

6. Obligations of the Agency: Lists the agency's responsibilities including compliance with Employment Agencies Act

7. Obligations of the Client: Details client's responsibilities including information provision and cooperation

8. Term and Termination: Duration of agreement and circumstances for termination

What sections are optional to include in a Placement Fee Agreement?

1. Replacement Guarantee: Terms for candidate replacement if placement fails within specified period

2. Multiple Introductions: Handling of scenarios where candidate is introduced by multiple agencies

3. International Placements: Additional terms for cross-border recruitment

4. Volume Discounts: Fee reduction structure for multiple placements

What schedules should be included in a Placement Fee Agreement?

1. Fee Schedule: Detailed breakdown of fee structure and calculation methods

2. Service Level Agreement: Specific performance metrics and service standards

3. Data Protection Agreement: PDPA compliance terms and data handling procedures

4. Replacement Guarantee Terms: Detailed conditions and process for replacement guarantee

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Technology
Financial Services
Professional Services
Manufacturing
Healthcare

Relevant Teams

Human Resources
Legal
Finance
Procurement
Operations

Relevant Roles

HR Director
Talent Acquisition Manager
Legal Counsel
Procurement Manager
Finance Manager

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What is a Placement Fee Agreement?

What sections should be included in a Placement Fee Agreement?

What sections are optional to include in a Placement Fee Agreement?

What schedules should be included in a Placement Fee Agreement?

Authors

Alex Denne

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