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Service Agreement Term Sheet

Service Agreement Term Sheet Template for Singapore

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Key Requirements PROMPT example:

Service Agreement Term Sheet

"I need a Service Agreement Term Sheet for a software development company providing AI consulting services to a financial institution in Singapore, with an initial term of 24 months starting from March 2025 and including specific data protection provisions."

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What is a Service Agreement Term Sheet?

The Service Agreement Term Sheet is commonly used in Singapore's business environment when parties need to establish the fundamental terms of a service relationship before proceeding with a comprehensive agreement. It provides a structured framework for negotiating and documenting essential commercial terms while ensuring compliance with Singapore's legal requirements. This document is particularly valuable in complex service arrangements where parties need to agree on basic terms before investing in detailed legal documentation.

What sections should be included in a Service Agreement Term Sheet?

1. Parties: Identification and details of contracting parties

2. Background: Context and purpose of the agreement

3. Definitions: Key terms used throughout the term sheet

4. Services: Detailed description of services to be provided

5. Term: Duration of the agreement

6. Fees: Payment terms and fee structure

7. Governing Law: Specification of Singapore law as governing law

What sections are optional to include in a Service Agreement Term Sheet?

1. Service Levels: Performance metrics and standards - include when specific performance standards need to be measured

2. Data Protection: PDPA compliance provisions - include when personal data processing is involved

3. Intellectual Property: IP ownership and licensing terms - include when IP is created or used in services

4. Force Majeure: Provisions for unforeseen circumstances - include when long-term service commitments are involved

What schedules should be included in a Service Agreement Term Sheet?

1. Service Description Schedule: Detailed scope of services

2. Fee Schedule: Detailed pricing and payment terms

3. Service Level Agreement: Detailed performance metrics and remedies

4. Data Processing Agreement: PDPA compliance details - required when personal data is processed

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

























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Industries

Contracts Act 1872 (Chapter 53): Primary legislation governing contract formation, validity of terms, contractual capacity, and consideration requirements in Singapore

Electronic Transactions Act 2010: Regulates electronic execution of agreements, digital signatures, and the validity of electronic records

Personal Data Protection Act 2012 (PDPA): Governs the collection, use, and disclosure of personal data, including data protection obligations and cross-border data transfer requirements

Consumer Protection (Fair Trading) Act: Protects consumers against unfair practices and provides remedies for consumer transactions

Competition Act 2004: Regulates anti-competitive behavior and market dominance considerations in business agreements

Common Law Principles: Includes precedent cases on service agreements, implied terms, and reasonableness of terms from Singapore's judicial decisions

Industry-Specific Regulations: Encompasses sector-specific regulations, licensing requirements, and professional standards applicable to the service industry

Employment Act: Relevant for distinguishing service agreements from employment relationships and maintaining independent contractor status

Goods and Services Tax Act: Covers tax implications and GST registration requirements for service providers in Singapore

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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