The Freight Broker Agreement is essential for businesses operating in Singapore's logistics sector. This document formalizes the relationship between freight brokers and their clients, ensuring compliance with Singapore's transportation and maritime regulations. It specifies the broker's role in arranging freight services, payment terms, service levels, and risk allocation. The agreement is particularly important given Singapore's position as a global logistics hub and its strict regulatory environment.
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1. Parties: Identification and details of the freight broker and client
2. Background: Context and purpose of the agreement
3. Definitions: Key terms used throughout the agreement including relevant legislation references
4. Services: Scope of freight broker services to be provided, including booking, coordination, and documentation
5. Compensation: Payment terms, fees, commission structure and billing procedures
6. Liability and Insurance: Risk allocation, limitation of liability and mandatory insurance requirements
7. Compliance: Obligations to comply with relevant Singapore laws, regulations and industry standards
8. Term and Termination: Duration of agreement, renewal terms and termination provisions
9. Governing Law: Application of Singapore law and jurisdiction
1. Performance Metrics: KPIs and service levels for high-volume or strategic relationships
2. Technology Integration: Terms for using broker's technology platform and data exchange systems
3. Exclusivity: Terms of exclusive arrangement when parties agree to exclusive relationship
4. Data Protection: Specific provisions for handling personal and business data under PDPA
1. Schedule 1 - Rate Card: Detailed pricing structure, rates and surcharges
2. Schedule 2 - Service Level Agreement: Detailed performance requirements and metrics
3. Schedule 3 - Insurance Requirements: Specific insurance coverage requirements and minimum coverage amounts
4. Schedule 4 - Operating Procedures: Detailed procedures for booking, documentation and operational requirements
5. Schedule 5 - Compliance Checklist: Regulatory compliance requirements and industry standards
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