Fenmoor Specialty Underwriting - Master Services Agreement v2
Documentdraft Fenmoor Specialty Underwriting: documents · contract · draft · 2024-05-24
Draft Master Services Agreement v2 for the Growth tier, dated 24 May 2024 and not executed. It proposes a £44,000 annual subscription plus a £12,000 one-off implementation, for a 1 Jul 2024 to 30 Jun 2025 initial term.
What it says
What this says
Current to 11 Oct 26Draft Master Services Agreement v2 for the Growth tier, dated 24 May 2024 and not executed. It proposes a £44,000 annual subscription plus a £12,000 one-off implementation, for a 1 Jul 2024 to 30 Jun 2025 initial term.
What it is: a working draft MSA prepared by Priya Raman, Account Executive, marked "Draft, for discussion. Not yet executed." It binds neither party, and the signature blocks are blank.
Commits (if signed): Growth tier at £44,000 a year, billed annually in advance, with a £12,000 one-off implementation for up to eight connectors. Availability is 99.5% with a one business hour P1 response, and a service credit of 10% of one month's fee, for availability only.
Unusual: the £56,000 total contract value includes the one-off implementation and "must not be read as an annual price". Renewal is on "the then-current terms and price list".
Not settled: three open points remain, covering data protection wording, the named administrator and the connector list. The text does not show whether an executed copy exists, so contracted terms must be checked against the executed order form.
As found in this document
Current to 9 Oct 26- Date end
- 30 Jun 2025
- Date start
- 1 Jul 2024
- Price
- £44,000
- Billing
- Annual, in advance
- Payment terms
- Thirty days from the invoice date
- Availability
- 99.5%
- P1 first response
- One business hour
- Service credit
- 10% of one month's fee for a month in which the availability commitment is missed
The document
Body
Fenmoor Specialty Underwriting - Master Services Agreement v2
Status: Draft, for discussion. Not yet executed.
Draft dated 24 May 2024. Prepared by Priya Raman, Account Executive, B-Brain. Customer success contact: Daniel Okafor.
This draft sets out the proposed terms on which B-Brain will provide the company brain to Fenmoor Specialty Underwriting. It is a working copy and may change before signature. Until an executed copy exists, nothing in this draft binds either party.
Parties
| Party | Description |
|---|---|
| B-Brain | A London data business providing the company brain, built and run inside the customer's own Snowflake account |
| Fenmoor Specialty Underwriting | A City managing general agent writing marine cargo and professional indemnity for Lloyd's syndicates (the Customer) |
Background
The Customer wishes to give its underwriting operations team one view of submissions, bordereaux queries, claims tickets and CRM activity, so that it can answer the oversight questions of its capacity providers from a single place. B-Brain will implement and operate the company brain for that purpose on the Growth tier.
Term
Read the whole document (4,413 characters)
| Item | Proposed position |
|---|---|
| Start date | 1 Jul 2024 |
| End date of the initial term | 30 Jun 2025 |
| Billing frequency | Annual, in advance |
| Payment terms | Thirty days from the invoice date |
Order lines
| SKU | Description | Quantity | Unit price | Discount | Net amount | Recurring |
|---|---|---|---|---|---|---|
| SUB-GROWTH | Company Brain: Growth | One | £44,000 | None | £44,000 | Yes, annual |
| IMP-GROWTH | Implementation: Growth (eight weeks, up to eight connectors) | One | £12,000 | None | £12,000 | No, one-off |
Summary of charges
| Item | Amount |
|---|---|
| Annual subscription price | £44,000 |
| One-off implementation fee | £12,000 |
| Total contract value for the initial term, including the one-off implementation | £56,000 |
No discount applies to either line. The annual subscription is £44,000; the total contract value above includes the one-off implementation fee and must not be read as an annual price.
Services
B-Brain will:
- implement the Growth tier of the company brain inside the Customer's Snowflake account, connecting up to eight sources;
- run the nightly refresh and keep the brain available to the Customer's teams;
- provide the dashboards builder and quarterly business reviews that come with the Growth tier; and
- provide support in line with the service levels below.
The Customer will give B-Brain timely access to the systems to be connected and a named administrator for the implementation.
Service levels
| Measure | Commitment |
|---|---|
| Availability | 99.5% |
| P1 first response | One business hour |
| Service credit basis | Availability only |
| Service credit | 10% of one month's fee for a month in which the availability commitment is missed |
Service credits are the Customer's remedy for a missed availability commitment. The Growth tier does not carry a service credit for data freshness.
Fees and payment
- The subscription fee is invoiced annually in advance.
- The one-off implementation fee is invoiced once, as set out in the order lines.
- Invoices are payable within thirty days of the invoice date.
- All amounts are in pounds sterling and exclusive of VAT.
Data and confidentiality
The Customer's data stays in the Customer's own Snowflake account. B-Brain will process it only to provide the services and will keep the Customer's information confidential. Each party will protect the other's confidential information with at least the care it applies to its own.
Renewal
The initial term runs to 30 Jun 2025. B-Brain's customer success manager will contact the Customer ahead of the end of the term to discuss renewal. Any renewal will be on the then-current terms and price list unless the parties agree otherwise in writing.
Open points for this draft
- Final review of the data protection wording by the Customer's legal team.
- Confirmation of the named administrator on the Customer's side.
- Confirmation of the connector list for the implementation.
Signatures
This draft is not signed.
| For B-Brain | For Fenmoor Specialty Underwriting |
|---|---|
| Account Executive | Authorised signatory |
| Signature: not yet signed | Signature: not yet signed |
| Date: not yet signed | Date: not yet signed |
Unusual terms
Current to 9 Oct 26- Draft only, not executed
- Total contract value of £56,000 includes one-off implementation
- Renewal on then-current terms and price list