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Down Payment Contract
"I need a Down Payment Contract for a commercial property purchase in Singapore, with a 20% deposit to be held in escrow until March 2025, and specific provisions for interest accrual during the holding period."
1. Parties: Identification of all parties involved in the transaction
2. Background: Context of the transaction and purpose of the down payment
3. Definitions: Key terms used throughout the agreement
4. Down Payment Amount: Specific amount and payment terms
5. Payment Method: Acceptable methods of payment and banking details
6. Purpose: Description of what the down payment is for
7. Refund Conditions: Circumstances under which the down payment may be refunded
8. Governing Law: Specification of Singapore law as governing law
1. Escrow Arrangements: Terms for holding funds in escrow - used for large transactions or when additional security is required
2. Interest Provisions: Terms regarding interest on the down payment - used when the down payment will be held for an extended period
3. Insurance Requirements: Insurance obligations of either party - used when the subject matter requires insurance coverage
4. Force Majeure: Provisions for unforeseen circumstances - used for longer-term arrangements or high-value transactions
1. Payment Schedule: Detailed breakdown of payment timeline and amounts
2. Property Details: Specific details of property or goods if applicable
3. Bank Details: Banking information for payment processing
4. Required Documents: List of documents required from each party
Authors
Deposit Terms
Refund Conditions
Default
Forfeiture
Interest
Representations and Warranties
Conditions Precedent
Force Majeure
Notices
Assignment
Confidentiality
Dispute Resolution
Governing Law
Jurisdiction
Entire Agreement
Severability
Amendment
Waiver
Time of Essence
Counterparts
Further Assurance
Costs
Escrow Terms
Termination
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