Deed Of Loan Agreement for Singapore

Deed Of Loan Agreement Template for Singapore

A Deed of Loan Agreement under Singapore law is a formal legal document that creates a binding obligation for the repayment of a loan. It differs from a standard loan agreement by being executed as a deed, which provides additional legal protection and a longer limitation period for enforcement. The document must comply with Singapore's Contracts Act, Money Lenders Act, and other relevant legislation, including specific requirements for deed execution and registration.

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What is a Deed Of Loan Agreement?

The Deed of Loan Agreement is a crucial legal instrument used in Singapore when parties wish to document lending arrangements with enhanced enforceability. This document type is particularly important when substantial sums are involved or when additional security is required. The deed format provides a longer limitation period (12 years instead of 6) and doesn't require consideration to be proved. The document includes detailed terms covering loan amount, interest, repayment schedule, security arrangements, events of default, and remedies, all compliant with Singapore's legal framework. It's commonly used in both commercial and private lending contexts where formal documentation of the loan terms is essential.

What sections should be included in a Deed Of Loan Agreement?

1. Parties: Identifies and defines the lender and borrower

2. Background: Explains context and purpose of the loan

3. Definitions: Defines key terms used throughout the agreement

4. Loan Amount and Purpose: Specifies loan amount and permitted use

5. Interest Rate: Details interest rate, calculation method, and payment terms

6. Repayment Terms: Specifies repayment schedule and methods

7. Events of Default: Lists circumstances constituting default

8. Representations and Warranties: States parties' assurances and declarations

9. Execution: Formal execution requirements for deed

What sections are optional to include in a Deed Of Loan Agreement?

1. Security: Details any collateral or security arrangements for secured loans

2. Guarantor Provisions: Terms relating to guarantors when loan includes third-party guarantees

3. Insurance Requirements: Specifies required insurance coverage when specific insurance is required

4. Early Repayment: Terms for early loan settlement when early repayment is permitted

What schedules should be included in a Deed Of Loan Agreement?

1. Repayment Schedule: Detailed payment schedule with dates and amounts

2. Security Details: Details of any security or collateral provided for the loan

3. Condition Precedents: List of conditions to be met before loan disbursement

4. Form of Notice: Template for formal notices between parties

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Singapore

Publisher

Genie AI

Document Type

Loan Agreement

Sector

Banking

Cost

Free to use
Relevant legal definitions
Industries

Contracts Act (Cap. 53): Primary legislation governing contract formation and validity in Singapore, covering requirements for valid contracts, consideration, contractual capacity, and terms and conditions

Money Lenders Act (Cap. 188): Regulates money lending activities in Singapore, including licensing requirements, interest rate restrictions, loan documentation requirements, and consumer protection provisions

Civil Law Act (Cap. 43): Contains provisions regarding the execution of deeds, rules on interest rates, and contractual capacity requirements

Stamp Duties Act (Cap. 312): Governs the stamping requirements for loan documents, applicable stamp duty rates, and timing requirements for stamping

Consumer Protection (Fair Trading) Act: Provides consumer protection measures and regulations against unfair practices in consumer transactions, applicable if the loan is consumer-related

Personal Data Protection Act 2012: Regulates the collection, use, and disclosure of personal data in Singapore, including requirements for handling personal information in loan agreements

Registration of Deeds Act: Sets out requirements for registration of deeds and determines priority of registered instruments

Singapore Case Law: Relevant judicial decisions regarding loan agreement interpretation, security interest enforcement, default remedies, and deed execution requirements

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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