The Equipment Consignment Agreement is essential for businesses operating in Singapore that wish to distribute equipment through consignment arrangements. This document is particularly relevant when equipment owners want to maintain ownership while allowing another party to possess and sell their equipment. Under Singapore law, this agreement must carefully address title retention, security interests under the Personal Property Securities Act, and specific obligations regarding equipment maintenance and sale. The agreement typically includes detailed provisions for commission structures, risk allocation, and termination rights, while ensuring compliance with Singapore's Sale of Goods Act and Contract Law.
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1. Parties: Identification and details of the consignor and consignee
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Equipment Description: Detailed description of consigned equipment
5. Consignment Terms: Core terms including duration, pricing, and commission structure
6. Risk and Insurance: Allocation of risk and insurance requirements
7. Title and Security Interest: Ownership rights and security arrangements
8. Termination: Circumstances and process for agreement termination
1. Marketing Requirements: Specific requirements for marketing the equipment if required by the consignor
2. Exclusivity Provisions: Terms regarding exclusive rights and territorial restrictions if applicable
3. Minimum Performance Requirements: Sales targets and performance metrics if specific standards are required
1. Equipment Schedule: Detailed list and specifications of consigned equipment
2. Pricing Schedule: Pricing structure, commission rates, and payment terms
3. Service Level Agreement: Maintenance and service requirements for equipment
4. Insurance Requirements: Specific insurance coverage requirements and limits
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