Vendor Release Form for Singapore

Vendor Release Form Template for Singapore

A Vendor Release Form is a legal document used in Singapore that formally terminates and settles all obligations between a company and its vendor. Governed by Singapore contract law and related statutes, this document provides a clean break by releasing both parties from future claims while establishing clear terms for any ongoing obligations such as confidentiality or intellectual property rights. It complies with Singapore's Personal Data Protection Act and other relevant legislation.

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What is a Vendor Release Form?

The Vendor Release Form is essential in Singapore business operations when concluding vendor relationships. It serves as a formal termination document that protects both parties from future claims while ensuring compliance with Singapore law. This document is particularly important when significant services have been rendered, intellectual property has been created, or sensitive information has been shared. The form typically includes release provisions, consideration details, ongoing obligations, and may address data protection requirements under PDPA.

What sections should be included in a Vendor Release Form?

1. Parties: Identification of the parties: the company and the vendor

2. Background: Brief context of the relationship and purpose of the release

3. Definitions: Key terms used in the document

4. Release Provisions: Specific terms of release, including scope and extent

5. Consideration: Details of any payment or consideration for the release

6. Confidentiality: Ongoing confidentiality obligations post-release

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

What sections are optional to include in a Vendor Release Form?

1. Intellectual Property Rights: IP ownership and transfer provisions - use when IP was created during the vendor relationship

2. Non-Competition: Restrictions on future competitive activities - use for vendors with access to sensitive information or key client relationships

3. Return of Property: Provisions for returning company property - use when vendor had access to company assets or materials

4. Data Protection: PDPA compliance provisions - use when personal data was processed during the engagement

5. Dispute Resolution: Specific dispute resolution mechanisms - use for high-value or complex vendor relationships

What schedules should be included in a Vendor Release Form?

1. Schedule of Services: Details of services provided by vendor being released

2. Schedule of Payments: Details of any final payments or consideration

3. Schedule of Company Property: List of items to be returned to the company

4. Schedule of IP Rights: Details of any intellectual property being transferred or released

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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Consent To Share Information

A Singaporean legal document authorizing personal data sharing with third parties under specific conditions.

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What is a Vendor Release Form?

What sections should be included in a Vendor Release Form?

What sections are optional to include in a Vendor Release Form?

What schedules should be included in a Vendor Release Form?

Authors

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