Cost Fixed Fee Contract Template for Singapore

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Key Requirements PROMPT example:

Cost Fixed Fee Contract

"I need a Cost Fixed Fee Contract for a software development project with a Singapore-based client, with a fixed fee of SGD 250,000 and delivery milestones starting from March 2025, including specific provisions for source code ownership and regular progress reporting."

What is a Cost Fixed Fee Contract?

The Cost Fixed Fee Contract is specifically designed for projects where services can be clearly defined and priced upfront. This contract type is commonly used in Singapore's business environment when parties seek certainty in project costs and scope. It provides comprehensive coverage of service specifications, payment terms, and delivery requirements while ensuring compliance with Singapore's legal framework. The document is particularly valuable for projects requiring strict budget control and clear deliverable definition, making it popular in construction, consulting, and professional services sectors.

What sections should be included in a Cost Fixed Fee Contract?

1. Parties: Identification and details of contracting parties

2. Background: Context and purpose of the agreement

3. Definitions: Key terms used throughout the agreement

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

5. Fixed Fee: Agreed payment amount and payment terms

6. Timeline: Project schedule and key milestones

7. Obligations: Responsibilities of each party

8. Term and Termination: Duration and conditions for ending the agreement

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

What sections are optional to include in a Cost Fixed Fee Contract?

1. Change Control: Procedures for managing changes to scope - use for complex projects with likely scope changes

2. Force Majeure: Provisions for unforeseen circumstances - use for longer-term contracts or high-risk environments

3. Intellectual Property: IP ownership and rights - use when deliverables include intellectual property

4. Insurance: Insurance requirements - use for high-risk or high-value projects

What schedules should be included in a Cost Fixed Fee Contract?

1. Schedule of Services: Detailed breakdown of services to be provided

2. Schedule of Rates: Breakdown of the fixed fee components

3. Project Timeline: Detailed project schedule with milestones

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

5. Performance Specifications: Technical requirements and standards

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Construction
Professional Services
IT Services
Engineering
Project Management

Relevant Teams

Legal
Finance
Operations
Procurement
Project Management Office

Relevant Roles

Project Manager
Contract Manager
Commercial Director
Legal Counsel
Finance Director

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Let's create your Cost Fixed Fee Contract

What is a Cost Fixed Fee Contract?

What sections should be included in a Cost Fixed Fee Contract?

What sections are optional to include in a Cost Fixed Fee Contract?

What schedules should be included in a Cost Fixed Fee Contract?

Authors

Alex Denne

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