Document background
The Deed of Loan Agreement is a crucial legal instrument used in Singapore when parties wish to document lending arrangements with enhanced enforceability. This document type is particularly important when substantial sums are involved or when additional security is required. The deed format provides a longer limitation period (12 years instead of 6) and doesn't require consideration to be proved. The document includes detailed terms covering loan amount, interest, repayment schedule, security arrangements, events of default, and remedies, all compliant with Singapore's legal framework. It's commonly used in both commercial and private lending contexts where formal documentation of the loan terms is essential.
