Flat Fee Agreement Template for Hong Kong

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Key Requirements PROMPT example:

Flat Fee Agreement

I need a Flat Fee Agreement for IT consulting services in Hong Kong, with a total fee of HKD 500,000 for developing a custom software solution, to be delivered by March 2025, including provisions for source code ownership and warranties.

Document background
The Flat Fee Agreement is designed for use in Hong Kong when parties wish to establish a clear, fixed-price arrangement for professional services rather than using hourly or variable pricing models. This document is particularly valuable for projects with well-defined scope and deliverables, providing certainty in costs for clients while allowing service providers to establish clear boundaries for their services. The agreement complies with Hong Kong contract law requirements and common law principles, incorporating necessary protections for both parties. It is commonly used for consulting projects, technical services, creative work, and other professional services where the scope can be clearly defined upfront. The document includes essential elements such as scope definition, payment terms, delivery timelines, and appropriate risk allocation between parties.
Suggested Sections

1. Parties: Identifies and provides full details of all parties to the agreement

2. Background: Explains the context and purpose of the agreement

3. Definitions: Defines key terms used throughout the agreement

4. Scope of Services: Detailed description of services to be provided under the flat fee arrangement

5. Fees and Payment Terms: Specifies the flat fee amount, payment schedule, and payment methods

6. Timeline and Deliverables: Sets out the project timeline and specific deliverables

7. Obligations of Service Provider: Details the responsibilities and commitments of the service provider

8. Obligations of Client: Outlines the client's responsibilities and requirements

9. Intellectual Property: Addresses ownership and rights to any intellectual property created

10. Confidentiality: Protects confidential information shared during the engagement

11. Term and Termination: Specifies the duration of the agreement and termination provisions

12. General Provisions: Standard contract clauses including governing law, notices, and entire agreement

13. Execution: Signature blocks and execution details

Optional Sections

1. Change Orders: Include when the scope of work might need modification during the project

2. Force Majeure: Include for longer-term agreements or where service delivery could be impacted by external events

3. Insurance: Include when specific insurance coverage is required for the services

4. Data Protection: Include when personal data will be processed as part of the services

5. Non-Compete: Include when protecting against competition is relevant to the services

6. Warranties: Include when specific service quality guarantees are required

7. Dispute Resolution: Include when specific dispute resolution procedures (mediation/arbitration) are preferred

Suggested Schedules

1. Schedule 1 - Detailed Scope of Work: Detailed breakdown of services, specifications, and requirements

2. Schedule 2 - Fee Breakdown: Detailed breakdown of the flat fee components and payment milestones

3. Schedule 3 - Project Timeline: Detailed project schedule with milestones and delivery dates

4. Schedule 4 - Key Personnel: List of key team members and their roles (if applicable)

5. Appendix A - Service Level Standards: Specific performance standards and quality metrics (if applicable)

6. Appendix B - Required Documentation: List of documents to be delivered or maintained during the project

Authors

Alex Denne

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

Relevant Industries

Professional Services

Legal Services

Consulting

Information Technology

Creative Services

Financial Services

Marketing and Advertising

Engineering

Architecture

Business Advisory

Project Management

Training and Education

Research and Development

Relevant Teams

Legal

Finance

Procurement

Operations

Project Management

Business Development

Sales

Compliance

Risk Management

Contract Administration

Relevant Roles

Chief Executive Officer

Managing Director

Legal Counsel

Contract Manager

Project Manager

Finance Director

Operations Manager

Procurement Manager

Business Development Manager

Consultant

Freelancer

Small Business Owner

Department Head

Chief Financial Officer

Account Manager

Sales Director

Industries
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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