Deposit Release Form Template for Singapore

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Key Requirements PROMPT example:

Deposit Release Form

"Need a Deposit Release Form for returning a security deposit of SGD 25,000 to our commercial tenant following successful property inspection and completion of the 3-year lease agreement on March 15, 2025."

Document background

The Deposit Release Form is a crucial document in Singapore's business and property transactions, used when a previously held deposit needs to be returned or released. This document, governed by Singapore law, provides formal authorization for the release of funds and protects all parties involved by clearly documenting the transaction. The form typically includes details such as the original deposit amount, reason for the deposit, release conditions, and banking information. It's particularly important in real estate transactions, business contracts, and other situations where significant deposits are held in trust or escrow.

Suggested Sections

1. Document Header: Date, parties' names, and reference numbers

2. Property/Transaction Details: Description of the deposit and related transaction

3. Amount Declaration: Specific amount being released

4. Release Statement: Formal statement of deposit release

5. Signatures: Execution blocks for all parties

Optional Sections

1. Conditions for Release: Additional conditions that must be met before release of deposit

2. Dispute Resolution: Process for handling disputes regarding the deposit release

3. Interest Statement: Details of any interest accrued on deposit during the holding period

Suggested Schedules

1. Payment Details: Bank account information and payment method for deposit release

2. Original Deposit Documentation: Copy of original deposit receipt or agreement

3. Authorization Documents: Required proof of authority to release deposit

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

alex.den.21@genieai.co

Relevant legal definitions

Agreement
Deposit
Deposit Amount
Deposit Holder
Depositor
Effective Date
Interest
Original Transaction
Parties
Payment Details
Release Date
Released Funds
Relevant Account
Release Conditions
Singapore Dollars
Transaction Reference Number

Clauses

Relevant Industries

Real Estate
Banking & Finance
Construction
Retail

Relevant Teams

Finance
Legal
Operations
Property Management
Treasury

Relevant Roles

Property Manager
Finance Manager
Legal Counsel
Contract Administrator
Treasury Manager

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Let's create your Deposit Release Form

Authors

Alex Denne

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