Process Agent Services
International companies often enter into legal agreements governed by a law foreign to their home country. A typical provision included in many international agreements is the appointment of an agent for service of process or commonly known as a Process Agent. These agreements require you to have a local agent to accept service of process and other legal documents.
International companies often do not have the necessary registered address to accept service of process and therefore require process agent services. A process agent – or agent for service of legal process (ASLP) – provides an address to which court papers can be served. Process agents receive service of notices, proceedings or documents on behalf of their overseas clients in situations where it is not possible for them to be served abroad. Appointing a process agent is a vitally important step for many businesses dealing with suppliers, banks or lenders in foreign countries. Industries that are most likely to require process agent services include industrial manufacturers, transportation/aviation, investment & commercial banking, communications, energy, and pharmaceuticals.
Bestar, in Singapore and Malaysia, is a provider of process agent services, for immediate notification of any service of process in Singapore and Malaysia by telefax, emailing, or courier, and forwarding legal papers to a registered office. Our local teams of company secretaries work with clients and intermediaries across the world to achieve this legal requirement. We can accept service of process and other legal documents for you.
Our appointment as a process agent covers service for documents relating to contracts, transaction documents, International Swaps Derivatives Association (ISDA) Master Agreements, structured finance documentation, credit and loan agreements, indentures, intercreditor agreements, import/export financing, commitment letters, deposit agreements, franchise agreements, guarantees, purchase agreements, security agreements and underwriting agreements.
We have a centralised administration system with robust processes and controls to provide formalised and referenced process agent appointments and the efficient forwarding of process papers served at our offices to a contact person by courier.
Value of Bestar
By appointing Bestar, all parties in the transaction can be more confident that there won’t be missed or mishandled legal process resulting in a costly default judgment.
Bestar maintains an accurate database of its process agent appointments and current contact information. When you appoint us as your process agent, you can rest assured that, should your business be served any legal notices, they will be handled quickly and professionally.
Bestar demonstrates discretion, keeping the content and terms of the agreement confidential, and provides prompt notice of receipt of any legal proceeding in accordance with the terms of the international agreements.
Prior to appointing Bestar, all involved parties need to agree upon the terms of the deal, especially since certain terms are required in the appointment. Once the terms are defined, we can be engaged quickly so that you can conclude the transaction before changes occur for either party that could derail the deal.
We make the appointment procedure straightforward and appealing to clients, documenting the confirmation of terms by way of letter agreement. Our fee structure is simple and cost-effective comprising an upfront flat fee of $100 per year of term of appointment, payable upon appointment (regardless of the number of documents).
Where we incur expenses, such as for courier or notary public services, we will charge such expenses to the client as they arise.
Additional documents may be added pursuant to a side letter agreement and a fee of $100.
To find out exactly how we can help you, speak to us. We are here to help.