Continuous Monitoring & Compliance Updates
This Post-Market Retainer Agreement ("Agreement") is entered into as of [Date], by and between:
AGENCY: Arktis Compliance Ltd., a regulatory technology consultancy (hereinafter "Agency"), and
CLIENT: [Client Company Name], having its principal place of business at [Address] (hereinafter "Client").
Under the EU AI Act (Article 61), Providers of High-Risk AI systems are strictly required to establish and maintain a continuous post-market monitoring system. The Agency shall act as the Client's outsourced technical compliance unit on a retainer basis, providing the following monthly services:
The Client agrees to pay the Agency a flat monthly retainer fee of [Monthly Amount, e.g., $199 USD or ₹15,000].
Manual Wire Transfer Instructions:
Bank Name: [Bank Name]
Account Name: [Account Name]
Account Number: [Account Number]
SWIFT / Routing: [Code]
This Agreement shall commence on the Effective Date and continue on a month-to-month basis. Either party may terminate this Agreement without cause by providing thirty (30) days written notice to the other party. Upon termination, the Client retains all updated documentation generated up to the termination date.
The Agency acts as a technical engineering advisor, not legal counsel. The Agency's maximum aggregate liability under this Agreement for any month shall strictly not exceed the retainer fee paid by the Client for that specific month. The Agency assumes zero financial liability for regulatory fines imposed by the European Union.
This Agreement is governed by the laws of India. Any disputes shall be resolved through binding International Arbitration (e.g., SIAC or UNCITRAL) seated in Jabalpur, Madhya Pradesh, ensuring absolute international enforceability while protecting the Agency's home jurisdiction.
For the Agency: Arktis Compliance Ltd.
Authorized Signature
Name: Arktis Compliance
Title: Chief Executive Officer
For the Client
Authorized Signature
Name: [Client Name]
Title: [Client Title]