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Software Development Agreement Between Two Companies
"I need a Software Development Agreement Between Two Companies for a mobile banking app development project with a value of SGD 2.5 million, to be delivered in three phases starting March 2025, with specific provisions for source code ownership and data security compliance for the financial sector in Singapore."
1. Parties: Identifies the contracting parties with full legal names and registered addresses
2. Background/Recitals: Sets out the context and purpose of the agreement
3. Definitions: Defines key terms used throughout the agreement
4. Scope of Services: Detailed description of software development services to be provided
5. Project Timeline and Deliverables: Specific milestones, deadlines, and deliverables
6. Payment Terms: Pricing, payment schedule, and invoicing procedures
7. Intellectual Property Rights: Ownership and licensing of developed software and pre-existing IP
8. Confidentiality: Protection of confidential information and trade secrets
9. Term and Termination: Duration of agreement and termination provisions
1. Change Management: Process for handling change requests - recommended for complex projects with likelihood of scope changes
2. Source Code Escrow: Provisions for source code safekeeping - recommended when client requires access to source code under specific conditions
3. Data Protection: PDPA compliance and data handling procedures - required when personal data processing is involved
4. Service Level Agreement: Performance metrics and support requirements - recommended when ongoing maintenance is part of the agreement
5. Insurance: Required insurance coverage - recommended for high-value or high-risk projects
1. Project Specifications: Detailed technical requirements and specifications
2. Acceptance Criteria: Specific criteria for accepting deliverables
3. Rate Card: Detailed breakdown of costs and rates
4. Project Team: Key personnel and their roles
5. Service Level Requirements: Detailed performance metrics and support requirements
6. Change Request Template: Standard form for requesting changes to scope
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