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Business Retainer Agreement
"I need a Business Retainer Agreement for my IT consulting firm to provide ongoing technical support and maintenance services to enterprise clients, with monthly billing and service level agreements, starting from January 2025."
1. Parties: Identifies and defines the service provider and client with full legal names and registered addresses
2. Background: Sets out the context of the agreement and general intention of the parties
3. Definitions: Defines key terms used throughout the agreement
4. Scope of Services: Detailed description of the services to be provided under the retainer
5. Term and Renewal: Duration of the retainer agreement and renewal provisions
6. Fees and Payment Terms: Monthly retainer fee, payment schedule, invoicing process, and late payment consequences
7. Service Provider's Obligations: Key responsibilities and commitments of the service provider
8. Client's Obligations: Key responsibilities and commitments of the client
9. Confidentiality: Provisions for handling confidential information
10. Intellectual Property: Ownership and usage rights of any IP created during the service provision
11. Limitation of Liability: Caps on liability and exclusions
12. Termination: Grounds for termination and notice requirements
13. Post-Termination Obligations: Obligations that survive after agreement termination
14. General Provisions: Standard boilerplate clauses including notices, entire agreement, governing law
1. Service Levels: Specific performance metrics and standards, used when service quality needs to be quantifiably measured
2. Data Protection: GDPR compliance provisions, required if personal data processing is involved
3. Non-Compete: Restrictions on working with competitors, used in sensitive industry sectors
4. Insurance: Specific insurance requirements, important for high-risk services
5. Force Majeure: Provisions for unforeseen circumstances, particularly relevant post-COVID
6. Assignment and Subcontracting: Rights to transfer obligations or use subcontractors, important for larger service providers
7. Dispute Resolution: Specific procedures for handling disputes, useful for high-value or complex services
1. Schedule 1 - Scope of Services: Detailed breakdown of services included in the retainer
2. Schedule 2 - Fee Schedule: Detailed fee structure, including any variable elements
3. Schedule 3 - Service Levels: Specific performance metrics and KPIs if applicable
4. Schedule 4 - Key Personnel: List of key team members responsible for service delivery
5. Schedule 5 - Reports and Deliverables: Format and frequency of required reports and deliverables
6. Appendix A - Communication Protocols: Agreed communication procedures and contact points
7. Appendix B - Change Request Process: Procedure for requesting and implementing changes to services
Authors
Professional Services
Legal Services
Management Consulting
IT Services
Marketing and Advertising
Financial Advisory
Business Consulting
Accounting Services
Digital Services
Creative Services
Human Resources
Technical Support
Legal
Finance
Procurement
Operations
Commercial
Business Development
Contract Management
Project Management
Account Management
Service Delivery
Professional Services
Risk and Compliance
Chief Executive Officer
Managing Director
Chief Financial Officer
Chief Operating Officer
Head of Legal
General Counsel
Procurement Manager
Contract Manager
Business Development Director
Operations Manager
Finance Director
Commercial Director
Project Manager
Account Director
Service Delivery Manager
Professional Services Director
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