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Service Bureau Agreement
"I need a Service Bureau Agreement for my fintech company to outsource our payment processing operations to a third-party provider in Singapore, with specific emphasis on data security and MAS compliance requirements, starting from March 2025."
1. Parties: Identification of service bureau and client, including registration details and addresses
2. Background: Context of the agreement and brief description of services to be provided
3. Definitions: Key terms used throughout the agreement
4. Services: Detailed description of services to be provided
5. Service Levels: Performance standards and metrics
6. Fees and Payment: Pricing, payment terms, and invoicing procedures
7. Data Protection: PDPA compliance and data handling requirements
8. Confidentiality: Protection of confidential information
9. Term and Termination: Duration and termination provisions
1. Personnel: Staff deployment terms and conditions for service provider's personnel working on client premises
2. Business Continuity: Disaster recovery and business continuity provisions for critical services
3. Regulatory Compliance: Industry-specific regulatory requirements for regulated sectors
4. Insurance: Insurance requirements and coverage specifications for high-risk services
1. Service Description Schedule: Detailed technical specifications of services
2. Service Level Agreement: Detailed performance metrics and remedies
3. Fee Schedule: Detailed pricing and payment terms
4. Data Processing Agreement: Detailed data protection obligations under PDPA
5. Business Continuity Plan: Detailed disaster recovery procedures
6. Security Requirements: IT security standards and requirements
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