Final Payment Acknowledgement Letter Template for Singapore

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Key Requirements PROMPT example:

Final Payment Acknowledgement Letter

"I need a Final Payment Acknowledgement Letter for a construction project completion payment of SGD 2.5M received on March 15, 2025, which should include a full release of claims and confirmation that all project deliverables have been accepted."

Document background

The Final Payment Acknowledgement Letter is a crucial document used in Singapore business transactions to formally close financial obligations between parties. It serves as conclusive evidence that all payments have been received and accepted as full settlement. This document is particularly important in Singapore's business environment where clear documentation of financial settlements is essential for legal certainty. The letter typically includes payment details, references to original agreements, and may contain releases from further claims. It's commonly used after project completion, service delivery, or contract fulfillment to prevent future payment disputes.

Suggested Sections

1. Date and Reference: Current date and any reference numbers to original contract

2. Recipient Details: Full name and address of the paying party

3. Payment Details: Specific amount, payment method, and date received

4. Contract Reference: Reference to original agreement or contract

5. Acknowledgement Statement: Clear statement confirming receipt of final payment

6. Release Statement: Confirmation that no further payments are due

7. Signature Block: Space for authorized signature and company details

Optional Sections

1. GST Statement: Additional section for GST details when payment includes GST component

2. Bank Details Confirmation: Section confirming the account that received payment - used for electronic transfers

3. Mutual Release: Additional section for mutual release of obligations when full discharge of contract is intended

Suggested Schedules

1. Payment Receipt: Copy of bank transfer or payment confirmation

2. Original Invoice: Copy of the final invoice being settled

3. Authorization Letter: Documentation of signing authority if signed by someone other than the primary contract holder

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Construction
Professional Services
Real Estate
Manufacturing
Technology

Relevant Teams

Finance
Legal
Accounts
Project Management
Procurement

Relevant Roles

Finance Manager
Project Manager
Contract Administrator
Accounts Receivable Manager
Chief Financial Officer

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Let's create your Final Payment Acknowledgement Letter

Authors

Alex Denne

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