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Provisional Agreement Template for Singapore

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Key Requirements PROMPT example:

Provisional Agreement

"Need a Provisional Agreement for a potential joint venture with a Singapore-based manufacturing company, including exclusivity provisions and a timeline for completing due diligence by March 2025."

Document background
A Provisional Agreement serves as an interim arrangement that allows parties to commence their relationship while finalizing detailed terms. Under Singapore's legal framework, this document type provides a binding commitment while maintaining flexibility for future negotiations. It typically includes essential terms, conditions precedent, timelines for finalizing the full agreement, and any preliminary obligations. This document is particularly useful in complex transactions where immediate action is required but full terms cannot be immediately finalized, offering protection under Singapore's robust commercial law system.
Suggested Sections

1. Parties: Identification and details of all contracting parties

2. Background: Context and purpose of the provisional agreement

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

4. Subject Matter: Core provisions and obligations of the agreement

5. Duration: Term of the provisional agreement and conditions for conversion to final agreement

6. Consideration: Financial terms and payment provisions

7. Termination: Circumstances and process for ending the agreement

Optional Sections

1. Conditions Precedent: Prerequisites that must be fulfilled, use when agreement depends on specific conditions

2. Warranties and Representations: Parties' assurances, include for complex transactions

3. Confidentiality: Information protection provisions, include when sensitive information is involved

4. Force Majeure: Provisions for unforeseen circumstances, include for longer-term agreements

5. Assignment: Rights transfer provisions, include when transfer rights are relevant

Suggested Schedules

1. Schedule of Assets: Detailed list of assets covered by the agreement

2. Payment Schedule: Breakdown of payment terms and timelines

3. Due Diligence Requirements: List of required documentation and verifications

4. Form of Final Agreement: Template or key terms of the intended final agreement

5. Contact Details: Key contact information for all parties

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

Relevant legal definitions




















Clauses




















Industries

Civil Law Act (Cap. 43): Primary legislation governing contract law in Singapore, establishing fundamental principles of contract formation and enforcement

Contract Law (Amendment) Act: Updates and modifications to Singapore's contract law framework

Electronic Transactions Act: Governs the formation and validity of electronic contracts and digital signatures in Singapore

Conveyancing and Law of Property Act: Regulates property transactions and real estate matters in Singapore

Land Titles Act: Governs the registration and transfer of land titles in Singapore

Housing and Development Act: Regulates transactions involving HDB (public housing) properties

Companies Act: Governs corporate entities and their contractual capabilities in Singapore

Sale of Goods Act: Regulates contracts involving the sale and purchase of goods

Unfair Contract Terms Act: Restricts the extent to which civil liability for breach of contract can be avoided through contract terms

Stamp Duties Act: Governs the imposition of stamp duties on certain types of agreements and documents

Limitation Act: Sets time limits for bringing legal actions relating to contracts and other civil matters

Consumer Protection (Fair Trading) Act: Protects consumers against unfair practices and ensures fair trading

Consumer Protection (Trade Descriptions and Safety Requirements) Act: Ensures accurate trade descriptions and maintains safety standards in consumer contracts

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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