The Customer List Purchase Agreement is essential for businesses operating in Malaysia that wish to legally acquire or sell valuable customer data. This document is particularly relevant in the context of business acquisitions, marketing partnerships, or strategic growth initiatives where customer data transfer is involved. It must comply with the Malaysian Personal Data Protection Act 2010 and related regulations, making it crucial for businesses to have a properly structured agreement that addresses consent requirements, data protection obligations, and usage restrictions. The agreement becomes necessary when companies seek to expand their customer base through acquisition rather than organic growth, requiring careful consideration of both commercial and compliance aspects.
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1. Parties: Identification of the seller and purchaser of the customer list, including full legal names and registration details
2. Background: Context of the agreement, nature of the seller's business, and overview of the customer list being sold
3. Definitions: Definitions of key terms used throughout the agreement, including 'Customer List', 'Personal Data', 'Confidential Information'
4. Sale and Purchase: Core terms of the transaction, including what is being sold and purchased
5. Purchase Price and Payment: Details of the purchase price, payment terms, and payment method
6. Delivery and Format: Specifications for how and when the customer list will be delivered, including format and transmission method
7. Warranties and Representations: Seller's warranties regarding data accuracy, legal compliance, and ownership
8. Data Protection Compliance: Obligations regarding PDPA 2010 compliance, including consent verification and data handling requirements
9. Confidentiality: Obligations to maintain confidentiality of the customer list and related information
10. Use Restrictions: Limitations and permitted uses of the customer list post-purchase
11. Term and Termination: Duration of any ongoing obligations and circumstances for termination
12. General Provisions: Standard boilerplate clauses including governing law, notices, and entire agreement
1. Data Updates: Optional provisions for ongoing updates to the customer list, used when the seller agrees to provide periodic updates
2. Cross-Border Transfers: Additional provisions required when customer data will be transferred outside Malaysia
3. Data Security Requirements: Specific security measures required for data protection, included when handling sensitive customer information
4. Transition Services: Terms for any temporary support services provided by the seller, included when technical assistance is needed
5. Non-Competition: Restrictions on seller's future use of similar customer lists, included when exclusivity is required
6. Indemnification: Specific indemnity provisions beyond standard warranties, included for high-value or high-risk transactions
7. Audit Rights: Rights to audit data accuracy and compliance, included for large or regulated transactions
1. Schedule 1 - Customer List Specifications: Detailed description of the customer list, including fields, number of records, and data format
2. Schedule 2 - Data Protection Requirements: Specific data protection and security requirements, including technical and organizational measures
3. Schedule 3 - Warranty Exceptions: Any specific exceptions to the warranties provided in the main agreement
4. Schedule 4 - Transfer Timeline: Detailed timeline for the transfer of the customer list and any related deliverables
5. Schedule 5 - Permitted Uses: Detailed description of allowed and prohibited uses of the customer list
6. Appendix A - Form of Consent: Template of customer consent forms or proof of consent documentation
7. Appendix B - Technical Specifications: Technical details of data format, transfer method, and security protocols
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