Letter Of Promissory Note For Tuition Fee for Singapore

Letter Of Promissory Note For Tuition Fee Template for Singapore

A Letter of Promissory Note for Tuition Fee is a legally binding document under Singapore law that represents a written promise by a student (or their representative) to pay a specified amount of tuition fees to an educational institution. The document is governed by Singapore's Bills of Exchange Act and Contract Law, incorporating specific requirements for validity including clear payment terms, identification of parties, and proper execution requirements. It serves as both a acknowledgment of debt and a promise to pay, providing the institution with legal recourse in case of default.

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What is a Letter Of Promissory Note For Tuition Fee?

The Letter of Promissory Note For Tuition Fee is commonly used in Singapore's educational sector when students or their representatives need to formalize their commitment to pay tuition fees. This document is particularly relevant when institutions offer deferred payment plans or when securing payment for longer-term educational programs. It includes specific details about the amount owed, payment schedule, and parties involved, while complying with Singapore's legal framework, particularly the Bills of Exchange Act and relevant educational regulations. The promissory note provides educational institutions with a legally enforceable instrument while giving students a clear understanding of their financial obligations.

What sections should be included in a Letter Of Promissory Note For Tuition Fee?

1. Date of Issue: The date when the promissory note is created

2. Promisor Details: Full name, address, and identification of the person making the promise

3. Promisee Details: Full name and address of the educational institution

4. Amount Promised: The exact tuition fee amount in numbers and words

5. Payment Terms: When and how the payment will be made

6. Signature Block: Space for promisor's signature and witness details

What sections are optional to include in a Letter Of Promissory Note For Tuition Fee?

1. Interest Rate: Details of any applicable interest, used when late payment terms are included

2. Guarantor Details: Information about any guarantor, used when additional security is required

3. Default Consequences: Specific consequences of default, used when institution requires explicit terms

What schedules should be included in a Letter Of Promissory Note For Tuition Fee?

1. Payment Schedule: If payments are to be made in installments

2. Course Details: Details of the course for which the tuition fee is being promised

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

Cost

Free to use

Relevant legal definitions

Promisor
Promisee
Institution
Due Date
Payment Schedule
Principal Amount
Interest Rate
Default
Business Day
Course
Academic Term
Guarantor
Place of Payment
Tuition Fees
Academic Year
Payment Method
Late Payment Charges
Witness

Clauses

Promise to Pay
Payment Terms
Interest
Default
Acceleration
Waiver
Amendment
Governing Law
Jurisdiction
Assignment
Notice
Severability
Joint and Several Liability
Security
Guarantees
Representations and Warranties
Force Majeure
Entire Agreement

Relevant Industries

Education
Private Training
Vocational Education

Relevant Teams

Finance
Admissions
Legal
Student Services
Administration

Relevant Roles

Finance Manager
Admissions Officer
Bursar
Legal Counsel
Student Services Manager

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Unsecured Promissory Note

A legally binding promise to pay under Singapore law, documenting an unsecured debt obligation between parties.

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What is a Letter Of Promissory Note For Tuition Fee?

What sections should be included in a Letter Of Promissory Note For Tuition Fee?

What sections are optional to include in a Letter Of Promissory Note For Tuition Fee?

What schedules should be included in a Letter Of Promissory Note For Tuition Fee?

Authors

Alex Denne

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