Document background
The Overagreement serves as a master framework agreement designed to govern the ongoing business relationship between corporate groups operating under Hong Kong law. This document type is particularly useful when parties anticipate entering into multiple related agreements over time and need a consistent framework to govern these arrangements. It establishes key principles, processes, and terms that will apply across all subsequent agreements, reducing negotiation time and ensuring consistency in approach. The document includes governance structures, risk allocation principles, and operational procedures while incorporating Hong Kong legal requirements and commercial practices. It's commonly used in complex business relationships where multiple business units or subsidiaries will be engaging in various transactions or service arrangements over time.
