Legal Templates
Business Retainer Agreement

Business Retainer Agreement Template for Singapore

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Key Requirements PROMPT example:

Business Retainer Agreement

"Need a Business Retainer Agreement for our IT consulting firm to provide ongoing technical support and maintenance services to a Singapore-based fintech startup, with monthly reporting requirements and specific service level agreements starting March 2025."

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What is a Business Retainer Agreement?

The Business Retainer Agreement serves as a foundational document for establishing long-term professional service arrangements in Singapore. This agreement type is particularly useful when businesses require regular, ongoing access to professional services without executing separate contracts for each service instance. It typically includes detailed service specifications, payment structures, performance metrics, and compliance requirements aligned with Singapore's legal framework. The document provides clarity on service scope, confidentiality obligations, intellectual property rights, and dispute resolution mechanisms while ensuring adherence to Singapore's business regulations and professional standards.

What sections should be included in a Business Retainer Agreement?

1. Parties: Identification and details of the service provider and client

2. Background: Context of the agreement and relationship between parties

3. Definitions: Key terms used throughout the agreement

4. Scope of Services: Detailed description of services to be provided under the retainer

5. Payment Terms: Retainer fee, payment schedule, and billing procedures

6. Term and Termination: Duration of agreement and termination provisions

7. Confidentiality: Protection of confidential information and trade secrets

8. Governing Law: Specification of Singapore law as governing law

What sections are optional to include in a Business Retainer Agreement?

1. Service Levels: Specific performance metrics and standards - use when specific deliverables or performance metrics need to be measured

2. Intellectual Property: Ownership and usage rights of IP created during service provision - use when services involve creation of intellectual property

3. Data Protection: PDPA compliance and data handling procedures - use when personal data processing is involved

4. Non-Compete: Restrictions on competitive activities - use when protecting against competition is crucial

5. Force Majeure: Provisions for unforeseeable circumstances - use when long-term commitments are involved

What schedules should be included in a Business Retainer Agreement?

1. Schedule of Services: Detailed breakdown of services covered under the retainer

2. Fee Schedule: Detailed breakdown of fees, rates, and payment terms

3. Service Level Agreement: Specific performance metrics and standards

4. Key Personnel: List of key team members and their roles

5. Compliance Requirements: Industry-specific compliance requirements and certifications

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

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alex.den.21@genieai.co
Industries

Contract Act (Cap. 53): Primary legislation governing contract formation, validity, and enforcement in Singapore

Electronic Transactions Act: Governs electronic contracts and digital signatures, ensuring legal recognition of electronic transactions

Companies Act (Cap. 50): Regulates company operations and corporate entities in Singapore

Business Registration Act: Governs the registration and regulation of businesses in Singapore

Partnership Act: Regulates the formation and operation of partnerships in Singapore

Goods and Services Tax Act: Governs the implementation and collection of GST on services provided

Income Tax Act: Regulates taxation of income, including business income and service fees

Personal Data Protection Act 2012: Governs the collection, use, disclosure and care of personal data

Spam Control Act: Regulates electronic communications and prevents unsolicited commercial messages

Mediation Act 2017: Provides framework for mediation proceedings and enforceability of mediated settlements

Arbitration Act: Governs arbitration proceedings and enforcement of arbitral awards

Employment Act: Provides basic terms and working conditions if service provider relationship could be construed as employment

Professional Services Regulations: Industry-specific regulations depending on the nature of services (legal, accounting, etc.)

Legal Profession Act: Regulates the provision of legal services if applicable to the retainer agreement

Accountants Act: Governs the provision of accounting services if applicable to the retainer agreement

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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