Legal Templates
Standard Hire Purchase Agreement

Standard Hire Purchase Agreement Template for Singapore

Create a bespoke document in minutes, or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Standard Hire Purchase Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Standard Hire Purchase Agreement

"I need a Standard Hire Purchase Agreement under Singapore law for financing a fleet of 5 delivery trucks for my logistics company, with a 20% deposit and 36-month payment term starting from March 2025."

Celebrated by
Collaborations with
Investors

What is a Standard Hire Purchase Agreement?

The Standard Hire Purchase Agreement is a crucial financing instrument in Singapore, regulated under the Hire-Purchase Act (Cap. 125). It enables individuals and businesses to acquire goods through structured payments while providing security for finance companies. This document is commonly used for vehicle purchases, industrial equipment, and high-value consumer goods. It must include specific statutory requirements, consumer protections, and clear financial terms as mandated by Singapore law. The agreement balances the interests of both parties by providing clear ownership structures, payment terms, and default provisions.

What sections should be included in a Standard Hire Purchase Agreement?

1. Parties: Identification of the finance company/creditor and the hirer/debtor

2. Background: Context of the hire purchase arrangement and description of the goods

3. Definitions: Key terms used throughout the agreement

4. Description of Goods: Detailed specification of the goods being purchased

5. Financial Terms: Purchase price, deposit, interest rate, total amount payable, and payment schedule

6. Payment Obligations: Terms and conditions of payment, including dates and methods

7. Title and Risk: Provisions regarding ownership and risk transfer

8. Insurance Requirements: Mandatory insurance provisions as per Hire-Purchase Act

9. Default and Termination: Consequences of default and termination provisions

What sections are optional to include in a Standard Hire Purchase Agreement?

1. Delivery Terms: Details of delivery arrangements for the goods when specific delivery terms are required

2. Maintenance Requirements: Maintenance obligations for complex equipment or vehicles requiring specific upkeep

3. Trade-In Provisions: Terms relating to trade-in of existing goods when part of the transaction

4. Assignment Rights: Rights and conditions for assigning the agreement to third parties

What schedules should be included in a Standard Hire Purchase Agreement?

1. Payment Schedule: Detailed breakdown of payments including dates and amounts

2. Specification of Goods: Detailed technical specifications and identification numbers

3. Insurance Schedule: Details of required insurance coverage and minimum requirements

4. Condition Report: Initial condition assessment for used goods

5. Statutory Notice: Mandatory notices required under the Singapore Hire-Purchase Act

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Industries

Hire-Purchase Act (Cap. 125): Primary legislation governing hire purchase transactions in Singapore, covering mandatory form requirements, statutory warranties, rights and obligations, repossession rules, early payment provisions, and disclosure requirements

Consumer Protection (Fair Trading) Act: Legislation ensuring fair trading practices, cooling-off periods, protection against unfair practices, and clear disclosure requirements in hire purchase agreements

Moneylenders Act: Legislation regulating money lending practices and financial aspects of hire purchase agreements

Form Requirements: mandatory documentation requirements including cash price, hire purchase price, interest rate, and payment schedule details

Goods Description: Detailed requirements for describing the goods being purchased under the hire purchase agreement

Delivery Terms: Specifications for delivery terms and conditions that must be included in the agreement

Insurance Requirements: mandatory insurance provisions and requirements that must be specified in the agreement

Interest Rate Regulations: Rules governing interest rate calculations and disclosure in hire purchase agreements

Fee Structure: Regulations regarding maximum fees and charges that can be imposed under the agreement

Payment Terms: Requirements for structuring and documenting payment terms, including default provisions

Cooling-off Rights: mandatory provisions for cooling-off periods and cancellation rights for the consumer

Repossession Procedures: Legal requirements and procedures for repossession of goods in case of default

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

Find the exact document you need

Loan Agreement Between Individual And Company

A Singapore-law governed agreement establishing terms for a loan from an individual to a company.

find out more

Mortgage Loan Assumption Agreement

A Singapore-governed agreement enabling the transfer of mortgage obligations from an existing borrower to a new borrower.

find out more

Legal Loan Agreement Between Family Members

A Singapore-law governed agreement that formalizes and legally protects loan arrangements between family members.

find out more

Film Investment Agreement

A Singapore-law governed agreement establishing terms for film production investment, including rights, obligations, and profit-sharing arrangements.

find out more

Film Financing Agreement

A Singapore-law governed agreement establishing terms for film project funding, compliant with local media and financial regulations.

find out more

Car Installment Contract

A Singapore-law governed agreement for vehicle purchase through installment payments, compliant with local hire-purchase regulations.

find out more

Separation Financial Agreement

A Singapore-compliant legal agreement detailing financial arrangements between separating spouses.

find out more

Standard Hire Purchase Agreement

A Singapore-law governed agreement enabling purchase of goods through installment payments while the finance company retains ownership until full payment.

find out more

Debenture Loan Agreement

A Singapore law-governed agreement establishing terms for a secured loan facility with asset charges.

find out more

Funding Term Sheet

A preliminary investment agreement document under Singapore law that outlines key terms and conditions for funding arrangements.

find out more

Profit Sharing Loan Agreement

A Singapore law-governed agreement for loans where repayment includes a share of the borrower's profits.

find out more

Vendor Finance Agreement

A Singapore-law governed agreement enabling vendors to provide financing alongside their goods/services to customers.

find out more

House Loan Agreement

A Singapore-governed agreement between a lender and borrower for residential property financing, compliant with MAS regulations and local property laws.

find out more

Finance Contract

A legally binding financial agreement governed by Singapore law, establishing terms and conditions for lending facilities.

find out more

Intra Group Loan Agreement

A Singapore law agreement governing loans between entities within the same corporate group, addressing loan terms and regulatory compliance.

find out more

Financial Lease Contract

A Singapore-law governed agreement for long-term asset financing through lease arrangements, regulated under Singapore's financial services framework.

find out more

Project Finance Agreement

A Singapore-law governed agreement establishing terms for limited-recourse project financing, incorporating local regulatory requirements and security arrangements.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.

Read our Privacy Policy.