Deed Of Charge And Assignment Template for Singapore

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Key Requirements PROMPT example:

Deed Of Charge And Assignment

"I need a Deed of Charge and Assignment to secure a S$5 million loan from DBS Bank to my manufacturing company, creating security over our machinery, equipment, and receivables, with completion needed by March 2025."

Document background
The Deed of Charge and Assignment is a crucial security document in Singapore's financing landscape, typically used in corporate and commercial financing transactions. It enables companies to provide security over their assets while retaining operational control. The document must comply with Singapore's strict registration requirements under the Companies Act and follows established common law principles. It provides comprehensive security arrangements through both fixed and floating charges, coupled with assignments of rights, ensuring robust protection for lenders while maintaining commercial practicality for borrowers.
Suggested Sections

1. Parties: Details of the Chargor and Chargee

2. Background: Context of the security arrangement and underlying obligations

3. Definitions and Interpretation: Key terms and interpretation principles

4. Creation of Security: Core charging provisions and asset description

5. Representations and Warranties: Chargor's confirmations regarding charged assets and authority to enter into security

6. Covenants: Ongoing obligations of the Chargor regarding the charged assets and security

7. Enforcement: Rights and remedies of the Chargee upon default

8. Power of Attorney: Appointment of Chargee as attorney for security purposes

Optional Sections

1. Further Assurance: Additional security perfection obligations for complex security arrangements

2. Insurance: Insurance requirements for charged assets when physical assets are involved

3. Assignment of Contracts: Specific provisions for assignment of related agreements and contracts

4. Currency Provisions: Currency conversion and payment terms for cross-border transactions

Suggested Schedules

1. Schedule 1 - Description of Charged Assets: Detailed list and description of all assets subject to the security

2. Schedule 2 - Form of Notice: Template notices to be served on relevant third parties

3. Schedule 3 - Powers of Receiver: Detailed list of powers granted to any receiver appointed under the security

4. Schedule 4 - Assigned Contracts: List and details of contracts being assigned as part of the security

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

Relevant legal definitions
Industries

Companies Act (Cap. 50): Primary legislation governing company charges, including Section 131 for registration requirements and Section 133 requiring registration within 30 days of charge creation

Property Act (Cap. 242): Governs real property transactions and security interests over real property in Singapore

Conveyancing and Law of Property Act (Cap. 61): Regulates the conveyancing of property and creation of security interests over property in Singapore

Securities and Futures Act (Cap. 289): Relevant for charges over securities and financial instruments

Personal Property Securities Act: Upcoming legislation (in development) that will affect personal property security interests

Companies (Registration of Charges) Regulations: Detailed regulations governing the registration process for company charges

Stamp Duties Act (Cap. 312): Governs stamp duty implications for security documents and charged assets

Insolvency, Restructuring and Dissolution Act 2018: Addresses priority of security interests and validity of charges in insolvency scenarios

Banking Act (Cap. 19): Relevant when the charge involves licensed banks or banking institutions

MAS Guidelines and Notices: Regulatory requirements for charges involving regulated financial institutions

Contract Law (Amendment) Act: General principles affecting validity and enforcement of contractual obligations in security documents

Civil Law Act (Cap. 43): Fundamental legislation affecting civil obligations and rights in security arrangements

Rules of Court: Procedural rules governing enforcement of security interests through court proceedings

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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