Cost Fixed Fee Contract Template for Singapore

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Key Requirements PROMPT example:

Cost Fixed Fee Contract

"I need a Cost Fixed Fee Contract for a software development project with a Singapore-based client, with a fixed fee of SGD 250,000 and delivery milestones starting from March 2025, including specific provisions for source code ownership and regular progress reporting."

Document background
The Cost Fixed Fee Contract is specifically designed for projects where services can be clearly defined and priced upfront. This contract type is commonly used in Singapore's business environment when parties seek certainty in project costs and scope. It provides comprehensive coverage of service specifications, payment terms, and delivery requirements while ensuring compliance with Singapore's legal framework. The document is particularly valuable for projects requiring strict budget control and clear deliverable definition, making it popular in construction, consulting, and professional services sectors.
Suggested Sections

1. Parties: Identification and details of contracting parties

2. Background: Context and purpose of the agreement

3. Definitions: Key terms used throughout the agreement

4. Scope of Services: Detailed description of services to be provided

5. Fixed Fee: Agreed payment amount and payment terms

6. Timeline: Project schedule and key milestones

7. Obligations: Responsibilities of each party

8. Term and Termination: Duration and conditions for ending the agreement

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

Optional Sections

1. Change Control: Procedures for managing changes to scope - use for complex projects with likely scope changes

2. Force Majeure: Provisions for unforeseen circumstances - use for longer-term contracts or high-risk environments

3. Intellectual Property: IP ownership and rights - use when deliverables include intellectual property

4. Insurance: Insurance requirements - use for high-risk or high-value projects

Suggested Schedules

1. Schedule of Services: Detailed breakdown of services to be provided

2. Schedule of Rates: Breakdown of the fixed fee components

3. Project Timeline: Detailed project schedule with milestones

4. Key Personnel: List of key team members and their roles

5. Performance Specifications: Technical requirements and standards

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Clauses
Industries

Contract Law Act 1961: Primary legislation governing contract formation, enforcement, and remedies in Singapore

Civil Law Act (Cap. 43): Fundamental legislation governing civil matters including contractual relationships and obligations

Electronic Transactions Act: Legislation governing the formation and validity of electronic contracts and digital signatures

Building and Construction Industry Security of Payment Act (SOPA): Specific legislation for construction industry payments and disputes, relevant if the fixed fee contract is construction-related

GST Act: Tax legislation affecting contract pricing and payment terms

Competition Act: Legislation ensuring fair competition and preventing anti-competitive contract provisions

Limitation Act: Legislation setting time limits for contractual claims and legal actions

Unfair Contract Terms Act: Legislation regulating unfair terms in contracts and protecting against unreasonable contract provisions

Third Parties (Rights Against Insurers) Act: Legislation governing rights of third parties in contractual relationships

Companies Act: Corporate legislation relevant when contracting parties are registered companies

Employment Act: Labor law framework that may affect service-related fixed fee contracts involving employment relationships

Work Injury Compensation Act: Legislation covering workplace injury compensation that may be relevant for service-based fixed fee contracts

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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