Service Bureau Agreement Template for Singapore

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Key Requirements PROMPT example:

Service Bureau Agreement

"I need a Service Bureau Agreement for my fintech company to outsource our payment processing operations to a third-party provider in Singapore, with specific emphasis on data security and MAS compliance requirements, starting from March 2025."

Document background
The Service Bureau Agreement is essential for organizations in Singapore seeking to outsource their business processing functions while maintaining regulatory compliance. This agreement type is particularly relevant in the context of Singapore's sophisticated business environment and strict regulatory framework. It covers crucial aspects such as service delivery standards, data protection obligations under PDPA, cybersecurity requirements, and risk management protocols. The agreement is designed to protect both service providers and clients while ensuring operational efficiency and regulatory compliance.
Suggested Sections

1. Parties: Identification of service bureau and client, including registration details and addresses

2. Background: Context of the agreement and brief description of services to be provided

3. Definitions: Key terms used throughout the agreement

4. Services: Detailed description of services to be provided

5. Service Levels: Performance standards and metrics

6. Fees and Payment: Pricing, payment terms, and invoicing procedures

7. Data Protection: PDPA compliance and data handling requirements

8. Confidentiality: Protection of confidential information

9. Term and Termination: Duration and termination provisions

Optional Sections

1. Personnel: Staff deployment terms and conditions for service provider's personnel working on client premises

2. Business Continuity: Disaster recovery and business continuity provisions for critical services

3. Regulatory Compliance: Industry-specific regulatory requirements for regulated sectors

4. Insurance: Insurance requirements and coverage specifications for high-risk services

Suggested Schedules

1. Service Description Schedule: Detailed technical specifications of services

2. Service Level Agreement: Detailed performance metrics and remedies

3. Fee Schedule: Detailed pricing and payment terms

4. Data Processing Agreement: Detailed data protection obligations under PDPA

5. Business Continuity Plan: Detailed disaster recovery procedures

6. Security Requirements: IT security standards and requirements

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

Industries

Contract Law (Chapter 53): Primary legislation governing the formation, validity, and enforcement of contracts in Singapore

Personal Data Protection Act 2012 (PDPA): Comprehensive data protection law governing the collection, use, disclosure, and care of personal data

Electronic Transactions Act (Chapter 88): Regulates electronic transactions and digital signatures, providing legal recognition for electronic records

Computer Misuse Act: Addresses cybersecurity, unauthorized access, and computer crimes

Banking Act: Regulates banking operations and financial services if the service bureau provides banking-related services

Payment Services Act 2019: Governs payment systems and payment service providers in Singapore

Cybersecurity Act 2018: Framework for protection of critical information infrastructure and cybersecurity requirements

Employment Act: Main labor law governing employment terms and conditions if staff deployment is involved

Work Injury Compensation Act: Covers work-related injuries and compensation requirements for employees

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

Competition Act: Promotes competitive markets and prohibits anti-competitive practices

Copyright Act: Protects intellectual property rights related to original works

Trade Marks Act: Governs registration and protection of trademarks

Patents Act: Regulates patent protection for inventions and innovative processes

MAS Guidelines: Regulatory guidelines from Monetary Authority of Singapore for financial services

IMDA Regulations: Info-communications Media Development Authority regulations for technology and media services

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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