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Preferred Vendor Contract
"I need a Preferred Vendor Contract under Singapore law for a technology supplier who will be our exclusive provider of cloud services and hardware maintenance, with minimum purchase commitments of $500,000 annually, starting from March 2025."
1. Parties: Identifies and defines the contracting parties
2. Background: Sets out the context and purpose of the preferred vendor relationship
3. Definitions: Defines key terms used throughout the agreement
4. Appointment and Scope: Details of vendor appointment and services/goods to be provided
5. Pricing and Payment Terms: Pricing structure, payment schedules, and related terms
6. Service Levels: Performance standards and metrics
7. Term and Termination: Duration of agreement and termination provisions
8. Warranties and Representations: Standard warranties regarding capacity and performance
1. Volume Commitments: Optional section for when specific minimum purchase obligations are required
2. Exclusivity Provisions: Optional section for when exclusive vendor relationship is intended
3. Technology Requirements: Optional section for when technology integration is part of the relationship
1. Pricing Schedule: Detailed pricing structure and rates
2. Service Level Agreement: Detailed performance metrics and standards
3. Product Specifications: Detailed specifications of products/services
4. Key Personnel: List of key personnel from both parties
5. Compliance Requirements: Specific regulatory or industry compliance requirements
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