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Retainership Contract
"I need a Retainership Contract for my IT consulting firm to provide ongoing technical support services to a Hong Kong-based fintech company, including monthly reporting requirements and service level agreements, with the contract starting January 2025."
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1. Parties: Identification and details of the service provider and the client
2. Background: Context of the retainership arrangement and general purpose
3. Definitions and Interpretation: Key terms used throughout the agreement and rules of interpretation
4. Scope of Services: Detailed description of services to be provided under the retainership
5. Term and Renewal: Duration of the retainership and renewal provisions
6. Fees and Payment Terms: Retainer amount, payment schedule, and additional charges
7. Obligations of the Service Provider: Key responsibilities and service standards
8. Client's Obligations: Client's responsibilities and requirements for cooperation
9. Confidentiality: Protection and handling of confidential information
10. Intellectual Property Rights: Ownership and usage rights of any IP created during the retainership
11. Termination: Grounds and procedure for ending the agreement
12. Limitation of Liability: Extent and limitations of service provider's liability
13. General Provisions: Standard boilerplate clauses including notices, entire agreement, and governing law
1. Non-Compete and Non-Solicitation: Restrictions on competition and employee solicitation, used when protecting business interests is crucial
2. Service Levels: Specific performance metrics and standards, used for technical or measurable services
3. Insurance: Insurance requirements and coverage details, used for high-risk services
4. Data Protection: Specific data handling and privacy requirements, used when personal data processing is involved
5. Force Majeure: Provisions for unforeseen circumstances, used when service continuity is critical
6. Dispute Resolution: Specific procedures for handling disputes, used in high-value or complex arrangements
7. Assignment and Subcontracting: Rights to transfer obligations or use subcontractors, used when service delivery flexibility is needed
1. Schedule 1 - Scope of Services: Detailed breakdown of services covered under the retainership
2. Schedule 2 - Fee Schedule: Detailed fee structure, including hourly rates and additional charges
3. Schedule 3 - Service Levels: Specific performance metrics and response times
4. Schedule 4 - Key Personnel: List of key team members and their roles
5. Schedule 5 - Reports and Deliverables: Format and frequency of required reports and deliverables
6. Appendix A - Communication Protocol: Procedures for routine communications and escalations
7. Appendix B - Compliance Requirements: Specific regulatory or professional standards to be maintained
Authors
Legal Services
Accounting and Finance
Management Consulting
IT Services
Marketing and Communications
Human Resources
Business Advisory
Professional Services
Engineering Services
Design and Creative Services
Legal
Procurement
Finance
Compliance
Risk Management
Operations
Business Development
Professional Services
Account Management
Commercial
Chief Legal Officer
General Counsel
Legal Director
Contracts Manager
Procurement Manager
Business Development Director
Chief Financial Officer
Operations Director
Professional Services Manager
Account Director
Partnership Manager
Compliance Officer
Risk Manager
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