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Pre Contract Agreement Template for Singapore

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Key Requirements PROMPT example:

Pre Contract Agreement

"Need a Pre Contract Agreement for negotiations with a potential technology supplier in Singapore, including strict confidentiality provisions and a 6-month exclusivity period starting March 2025."

Document background
Pre Contract Agreements are essential documents used in Singapore business transactions to regulate the negotiation process before finalizing a main agreement. These agreements typically arise when parties need to exchange sensitive information or commit resources to exploring a potential transaction. A Pre Contract Agreement provides legal protection by establishing confidentiality obligations, exclusivity terms if required, and the framework for good faith negotiations. Under Singapore law, these agreements are particularly important in complex commercial transactions where significant preparatory work is needed before finalizing the main contract.
Suggested Sections

1. Parties: Identification and details of all parties involved in the pre-contract agreement

2. Background: Context, purpose, and objectives of entering into the pre-contract agreement

3. Definitions: Key terms and their meanings used throughout the agreement

4. Duration: Timeframe for negotiations and validity period of the pre-contract agreement

5. Confidentiality Obligations: Terms regarding the handling, use, and protection of confidential information exchanged during negotiations

6. Good Faith Obligations: Commitment to negotiate in good faith and general conduct expectations

7. Governing Law: Specification of Singapore law as the governing law and jurisdiction

Optional Sections

1. Exclusivity: Provisions preventing parties from negotiating with other parties during the specified period

2. Cost Allocation: Terms specifying how pre-contract costs and expenses will be shared between parties

3. Break Fee: Provisions for compensation if negotiations fail or are terminated under specific circumstances

4. Intellectual Property Rights: Protection and ownership of IP rights during the negotiation period

5. Dispute Resolution: Process for resolving any disputes arising during the pre-contract period

Suggested Schedules

1. Schedule 1 - Timeline: Proposed timeline for negotiations and key milestones

2. Schedule 2 - Information Requirements: List of required information and documents to be provided by each party

3. Schedule 3 - Authorized Representatives: List of persons authorized to negotiate and make decisions on behalf of each party

4. Schedule 4 - Confidential Information: Specific details of what constitutes confidential information for each party

Authors

Alex Denne

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

Relevant legal definitions





















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Industries

Singapore Contract Law: Common law principles governing contract formation, execution, and enforcement in Singapore

Contracts (Rights of Third Parties) Act 2001: Legislation governing how third parties may enforce terms of a contract to which they are not a direct party

Electronic Transactions Act 2010: Legislation governing electronic transactions and digital signatures in Singapore

Civil Law Act (Cap. 43): Basic framework of civil law in Singapore, including provisions affecting contractual relationships

Limitation Act (Cap. 163): Statute setting time limits for bringing legal actions and enforcing contractual rights

Unfair Contract Terms Act (Cap. 396): Legislation controlling the use of unfair terms in contracts and limiting the extent to which liability can be excluded

Personal Data Protection Act 2012: Framework for data protection and privacy requirements when handling personal information

Competition Act (Cap. 50B): Legislation ensuring fair competition and preventing anti-competitive practices in business agreements

Elements of Valid Contract: Essential components including offer, acceptance, consideration, intention to create legal relations, and capacity to contract

Pre-contractual Obligations: Requirements for confidentiality, non-disclosure, and good faith negotiations during the pre-contract phase

Enforceability Principles: Legal principles ensuring contract terms are clear, certain, and reasonable for enforcement purposes

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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