Engaging a service provider may be economically efficient, especially for small and medium enterprises who might not have the resources to employ individuals for these specific business needs.
However, it is important that the service agreement comprehensively covers both parties’ rights and obligations under the agreement so as to reduce the likelihood of disputes occurring in the course of the project.
What is Included in the Template for Service Agreement?
- Instructions on how you can use the template
- Definitions and interpretations of terms
- Provision of services
- Responsibility of fees, expenses and liability
- Confidential rights, obligations and duties of both parties
- Obligations of the company
- Obligations upon termination of agreement
- Sub-contracting, remedies and waiver, etc,
The following excerpts are taken from our service agreement template (which you can purchase at the link below):
3. PROVISION OF SERVICES
3.1. During the Engagement, the Service Provider will provide the Services with reasonable care and skill and in accordance with this Agreement.
4.1. The Company will pay to the Service Provider in consideration of the provision of the Services the fee set out in the Schedule (the Fee), within _______ days of receipt of an invoice submitted in accordance to clause 4.2.
Need a service agreement template? You can get one here.
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For a guide to service agreements in Singapore, click here.
If you need help customising your service agreement, feel free to get in touch with one of our corporate lawyers.