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Service Agreement Term Sheet
"I need a Service Agreement Term Sheet for a software development company providing AI consulting services to a financial institution in Singapore, with an initial term of 24 months starting from March 2025 and including specific data protection provisions."
1. Parties: Identification and details of contracting parties
2. Background: Context and purpose of the agreement
3. Definitions: Key terms used throughout the term sheet
4. Services: Detailed description of services to be provided
5. Term: Duration of the agreement
6. Fees: Payment terms and fee structure
7. Governing Law: Specification of Singapore law as governing law
1. Service Levels: Performance metrics and standards - include when specific performance standards need to be measured
2. Data Protection: PDPA compliance provisions - include when personal data processing is involved
3. Intellectual Property: IP ownership and licensing terms - include when IP is created or used in services
4. Force Majeure: Provisions for unforeseen circumstances - include when long-term service commitments are involved
1. Service Description Schedule: Detailed scope of services
2. Fee Schedule: Detailed pricing and payment terms
3. Service Level Agreement: Detailed performance metrics and remedies
4. Data Processing Agreement: PDPA compliance details - required when personal data is processed
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