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Loan Out Agreement
"I need a Loan Out Agreement for a software developer who will provide services through their company to our Singapore tech startup for a 12-month period starting January 2025, with potential IP considerations and non-compete restrictions."
1. Parties: Identifies the loan-out company, the service provider (talent), and the company engaging their services
2. Background: Sets out the context of the agreement and basic premise of the loan-out arrangement
3. Definitions: Defines key terms used throughout the agreement
4. Services: Details the specific services to be provided and performance requirements
5. Term: Duration of the agreement and any renewal provisions
6. Compensation: Payment terms, rates, and payment schedule
7. Obligations of Parties: Specific duties and responsibilities of each party
8. Termination: Conditions and procedures for ending the agreement
9. Governing Law: Specifies Singapore law as governing law and jurisdiction
1. Exclusivity: Restrictions on providing services to other parties - include when exclusive services are required
2. Intellectual Property: Ownership and rights to work product - include when creative or technical work is involved
3. Insurance: Required insurance coverage - include for high-risk services or regulatory requirements
4. Non-Compete: Post-termination competitive restrictions - include for senior positions or sensitive industries
1. Schedule of Services: Detailed description of services to be provided
2. Fee Schedule: Detailed breakdown of fees, rates, and payment terms
3. Key Performance Indicators: Metrics for measuring service quality and performance
4. Insurance Requirements: Specific insurance coverage requirements and limits
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