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The Borrowing Form Template serves as a essential document for lending transactions in Singapore, designed to protect both lender and borrower interests while ensuring compliance with local regulations. It is commonly used by financial institutions, licensed moneylenders, and businesses engaging in lending activities. The template incorporates requirements from Singapore's Moneylenders Act, Banking Act, and other relevant legislation, providing a comprehensive framework for documenting loan terms, interest rates, repayment schedules, and security arrangements. This standardized format helps ensure consistency and legal compliance while reducing the risk of disputes.
