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Terms Of Business Agreement

Terms Of Business Agreement Template for Malaysia

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Key Requirements PROMPT example:

Terms Of Business Agreement

"I need a Terms of Business Agreement for my Malaysian IT consultancy company that will provide cloud services and data analytics to financial sector clients, with emphasis on data protection compliance and service level commitments to be effective from March 2025."

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Document background
The Terms of Business Agreement serves as a foundational document for establishing and maintaining business relationships in Malaysia. It is typically used when businesses want to create a formal framework for ongoing commercial relationships, whether for service provision, consulting, or other business activities. The document incorporates essential elements required under Malaysian law, including the Contracts Act 1950, Consumer Protection Act 1999, and where applicable, the Electronic Commerce Act 2006. This agreement is particularly important for businesses operating in Malaysia as it provides legal certainty, clarifies expectations, and helps prevent disputes by clearly defining the terms of engagement, service standards, payment terms, and dispute resolution procedures. The document can be customized to specific business needs while maintaining compliance with Malaysian legal requirements and business practices.
Suggested Sections

1. Parties: Identification of all parties to the agreement, including full legal names, registration numbers, and registered addresses

2. Background: Context of the business relationship and purpose of the agreement

3. Definitions: Detailed definitions of key terms used throughout the agreement

4. Scope of Services: Detailed description of services or products to be provided under the agreement

5. Term and Commencement: Duration of the agreement and conditions for commencement

6. Payment Terms: Pricing, payment schedules, invoicing procedures, and payment methods

7. Obligations of Service Provider: Key responsibilities and commitments of the service provider

8. Client Obligations: Key responsibilities and commitments of the client

9. Confidentiality: Provisions for handling confidential information

10. Intellectual Property Rights: Ownership and usage rights of intellectual property

11. Data Protection: Compliance with PDPA 2010 and data handling procedures

12. Limitation of Liability: Extent and limitations of each party's liability

13. Termination: Conditions and procedures for terminating the agreement

14. Governing Law and Jurisdiction: Specification of Malaysian law as governing law and jurisdiction for disputes

15. General Provisions: Standard boilerplate clauses including notices, entire agreement, and severability

Optional Sections

1. Force Majeure: Include when parties want specific provisions for unforeseeable circumstances preventing performance

2. Service Levels: Include when specific performance metrics and standards need to be maintained

3. Insurance: Include when specific insurance requirements need to be maintained by either party

4. Non-Competition: Include when restricting parties from competing activities is necessary

5. Assignment and Subcontracting: Include when there's a need to control transfer of rights or use of subcontractors

6. Audit Rights: Include when one party requires rights to audit the other's compliance or performance

7. Change Control: Include when formal procedures for changes to services or terms are needed

8. Anti-Bribery and Corruption: Include when specific compliance with anti-corruption laws needs emphasis

Suggested Schedules

1. Schedule 1 - Service Description: Detailed specification of services or products to be provided

2. Schedule 2 - Pricing and Payment Terms: Detailed pricing structure, rates, and payment calculations

3. Schedule 3 - Service Levels and KPIs: Specific performance metrics and measurement criteria

4. Schedule 4 - Data Processing Agreement: Detailed terms for handling personal data in compliance with PDPA

5. Schedule 5 - Contact Details: Key contact persons and communication channels for both parties

6. Appendix A - Technical Requirements: Technical specifications or requirements for service delivery

7. Appendix B - Security Requirements: Security protocols and requirements for service delivery

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions






































Clauses






























Relevant Industries

Professional Services

Information Technology

Consulting

Financial Services

Manufacturing

Retail

Healthcare

Education

Construction

Telecommunications

Logistics

Business Process Outsourcing

Relevant Teams

Legal

Operations

Commercial

Procurement

Sales

Compliance

Risk Management

Business Development

Finance

Contract Administration

Account Management

Relevant Roles

Legal Counsel

Contract Manager

Business Development Manager

Operations Director

Commercial Director

Chief Executive Officer

Chief Operating Officer

Procurement Manager

Account Manager

Sales Director

Compliance Officer

Risk Manager

Project Manager

General Manager

Managing Director

Industries







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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