The Risk Management Agreement is essential for organizations seeking to formalize their risk management framework in compliance with Singapore regulations. This document is particularly relevant in today's complex business environment where systematic risk identification, assessment, and mitigation are crucial. The agreement typically covers comprehensive risk management services, including operational, financial, and strategic risks, while ensuring compliance with Singapore's regulatory requirements, including MAS guidelines where applicable. It establishes clear responsibilities, service levels, and accountability measures between the service provider and the client.
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1. Parties: Identification of contracting parties and their legal status
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Scope of Services: Detailed description of risk management services to be provided
5. Service Provider Obligations: Key responsibilities and duties of the risk management service provider
6. Client Obligations: Responsibilities and duties of the client
7. Fees and Payment: Financial terms and payment conditions
8. Confidentiality: Protection of sensitive information
9. Term and Termination: Duration and conditions for ending the agreement
10. Governing Law: Specification of Singapore law as governing law
1. Data Protection: PDPA compliance provisions for handling personal data
2. Regulatory Compliance: Industry-specific compliance requirements for regulated sectors
3. Insurance: Insurance requirements and coverage specifications
4. Business Continuity: Business continuity and disaster recovery provisions for critical services
1. Schedule 1 - Service Level Agreement: Detailed service levels and performance metrics
2. Schedule 2 - Fee Schedule: Detailed breakdown of fees and charges
3. Schedule 3 - Risk Assessment Framework: Methodology and approach for risk assessment
4. Schedule 4 - Reporting Ƶ: Standard formats for risk reporting
5. Schedule 5 - Contact Details: Key personnel and escalation contacts
6. Schedule 6 - Compliance Requirements: Detailed regulatory requirements and standards
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