How important is it for a tech startup?
Drafting a service provision contract helps both in defining expectations, as singapore company email list well as in preventing conflicts and protecting the company's intellectual property. It can also help to avoid litigation and establish payments.
To this end, this type of contract must contain some clauses:
Service description: Describe in detail the scope of the service provision, the technical expectations, the project stages and deadlines.
Term: Establish the period for which the contract will be valid. It can be for a fixed term or until the completion of a specific service.
Remuneration and payment conditions: Define the amount to be paid for the provision of the service, include the payment method, deadlines and penalties in case of delay.
Intellectual Property: Regulate the rights to the work developed. In this type of company, this clause is extremely important to protect innovations, codes and other creations.
Regulation on confidentiality, liability between the parties and their guarantees, the circumstances for terminating the contract, among others.