The Advisory Services Agreement is essential for businesses and professionals operating in India who engage in providing or receiving professional advisory services. This agreement is commonly used when one party (the advisor) agrees to provide specialized knowledge, expertise, or guidance to another party (the client) in exchange for compensation. The document ensures compliance with Indian legal requirements while addressing key commercial aspects such as scope of services, payment terms, confidentiality, and liability limitations. It's particularly important in the Indian context where professional services are subject to specific regulatory requirements, including GST regulations and professional conduct rules. The agreement helps protect both parties' interests by clearly defining expectations, deliverables, and remedies while maintaining alignment with Indian contract law principles.
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1. Parties: Identifies and provides full details of the parties entering into the agreement, including registered addresses and company registration numbers
2. Background: Sets out the context of the agreement and brief description of why the parties are entering into it
3. Definitions: Defines key terms used throughout the agreement for clarity and consistency
4. Scope of Services: Detailed description of the advisory services to be provided
5. Term and Termination: Duration of the agreement and circumstances under which it can be terminated
6. Fees and Payment Terms: Details of compensation, payment schedule, expenses, and invoicing procedures
7. Obligations of the Advisor: Key responsibilities and commitments of the service provider
8. Obligations of the Client: Client's responsibilities including providing necessary information and cooperation
9. Confidentiality: Provisions for protecting confidential information exchanged during the engagement
10. Intellectual Property Rights: Ownership and usage rights of materials and deliverables created during the engagement
11. Representations and Warranties: Standard assurances given by both parties regarding their capacity and authority
12. Limitation of Liability: Caps on liability and exclusions of certain types of damages
13. Indemnification: Mutual or one-way indemnities for specific risks
14. Force Majeure: Provisions for handling events beyond parties' reasonable control
15. Governing Law and Jurisdiction: Specifies Indian law as governing law and relevant courts for dispute resolution
16. General Provisions: Standard boilerplate clauses including notices, assignment, and entire agreement
1. Non-Compete: Restrictions on competitive activities - include when advisor will have access to sensitive competitive information
2. Non-Solicitation: Restrictions on soliciting employees or clients - relevant for long-term engagements
3. Insurance: Requirements for professional indemnity or other insurance - important for high-risk advisory services
4. Compliance with Laws: Specific regulatory compliance obligations - include when services are in regulated sectors
5. Data Protection: Detailed data handling requirements - necessary when personal data processing is involved
6. Service Levels: Specific performance metrics - include for ongoing advisory services with measurable deliverables
7. Change Control: Process for changing scope or terms - relevant for long-term or complex engagements
8. Dispute Resolution: Alternative dispute resolution procedures - include when parties prefer arbitration or mediation
1. Schedule 1 - Scope of Services: Detailed breakdown of services, deliverables, and timelines
2. Schedule 2 - Fee Schedule: Detailed fee structure, rates, payment milestones, and expense policies
3. Schedule 3 - Key Personnel: List of key team members and their roles in providing the services
4. Schedule 4 - Service Levels: Specific performance metrics and measurement criteria if applicable
5. Schedule 5 - Client Materials: List of materials, information, and resources to be provided by the client
6. Appendix A - Compliance Requirements: Specific regulatory or compliance requirements applicable to the services
7. Appendix B - Report Formats: Templates or formats for regular reports or deliverables
8. Appendix C - Communication Protocol: Procedures for routine communications and escalation paths
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