Hire Purchase Agreement For Machinery Template for Singapore

Hire-Purchase Act (Cap. 125): Primary legislation governing hire-purchase transactions in Singapore. Regulates transactions, prescribes mandatory terms, sets out rights and obligations of parties, and provides consumer protection measures.

Consumer Protection (Fair Trading) Act: Legislation relevant for business-to-consumer transactions in hire purchase agreements, providing additional consumer protection measures.

Contract Law (Cap. 43): Provides the general principles of contract formation and enforcement applicable to hire purchase agreements.

Personal Property Securities Act: Governs the registration of security interests in machinery under hire purchase arrangements.

Sale of Goods Act: Contains relevant provisions regarding title, quality, and fitness for purpose of goods including machinery under hire purchase.

MAS Regulations: Monetary Authority of Singapore regulations applicable when hire-purchase is provided by a financial institution.

ACRA Requirements: Registration requirements under the Accounting and Corporate Regulatory Authority for hire purchase transactions.

Statutory Content Requirements: Essential elements including machinery description, payment terms, interest rates, insurance requirements, maintenance obligations, default provisions, early termination rights, option to purchase, statutory warranties, and notice requirements.