The Commercial Management Agreement serves as a comprehensive framework for outsourcing management functions in Singapore's business environment. This document is essential when a company seeks to engage external expertise for managing specific aspects of their operations. The agreement includes detailed provisions for service delivery, performance standards, fee structures, and risk allocation, while ensuring compliance with Singapore's regulatory requirements. It's particularly relevant for businesses looking to optimize their operations tHRough professional management services while maintaining clear accountability and performance metrics.
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Key Requirements PROMPT example:
Commercial Management Agreement
"Need a Commercial Management Agreement for our Singapore retail chain, appointing ABC Management Pte Ltd to manage our tHRee shopping centers starting March 2025, with specific KPIs for footfall and tenant satisfaction, and quarterly performance reviews."
1. Parties: Identification and details of the contracting parties (Management Company and Client)
2. Background/Recitals: Context of the agreement and brief description of the parties' intentions
3. Definitions: Key terms used tHRoughout the agreement
4. Scope of Services: Detailed description of management services to be provided
5. Term and Termination: Duration of agreement and circumstances for termination
6. Fees and Payment Terms: Management fees, payment schedule, and related financial terms
7. Obligations of the Parties: Respective responsibilities and duties of both parties
8. Confidentiality: Protection of confidential information and trade secrets
9. Governing Law: Specification of Singapore law as governing law
1. Performance Metrics: Specific KPIs and performance standards for measuring service delivery effectiveness
2. Insurance Requirements: Detailed insurance coverage requirements and minimum coverage amounts
3. Data Protection: Provisions ensuring compliance with PDPA and data protection requirements
4. Force Majeure: Provisions addressing unforeseen circumstances and their impact on contractual obligations
5. Non-Competition: Restrictions on competitive activities and protection of business interests
1. Schedule of Services: Detailed breakdown of management services including scope and specifications
2. Fee Schedule: Comprehensive breakdown of fees, charges, and payment terms
3. Service Level Agreement: Detailed performance standards, metrics, and service level requirements
4. Key Personnel: List of key management team members and their roles
5. Reporting Requirements: Templates and schedules for required reports and performance monitoring
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