All Countries
Banking
Installment Payment Agreement

Installment Payment Agreement Template for Singapore

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Installment Payment Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Installment Payment Agreement

"Need an Installment Payment Agreement under Singapore law for a machinery purchase worth $250,000, to be paid in 24 monthly installments starting March 2025, with a 10% down payment and default interest rate of 5% per annum."

Celebrated by
Collaborations with
Investors
Document background
The Installment Payment Agreement is commonly used in Singapore when parties wish to structure payment of a debt or purchase price over time. This document is essential for businesses and individuals operating under Singapore jurisdiction who need to formalize payment arrangements. It includes specific payment terms, schedules, default provisions, and remedies as required by Singapore law. The agreement provides clarity and legal protection for both parties, ensuring compliance with relevant Singapore legislation including the Civil Law Act, Consumer Protection Act, and where applicable, the Moneylenders Act.
Suggested Sections

1. Parties: Identification of all parties involved in the agreement

2. Background: Context and purpose of the installment payment arrangement

3. Definitions: Key terms used throughout the agreement

4. Payment Terms: Amount, frequency, and method of installment payments

5. Payment Schedule: Detailed breakdown of payment dates and amounts

6. Default Provisions: Consequences of missing payments or breaching terms

7. Governing Law: Specification of Singapore law as governing law

Optional Sections

1. Security Provisions: Details of any collateral or security provided - use when payments are secured by assets or guarantees

2. Early Payment Provisions: Terms for early repayment or prepayment - use when early payment options are offered

3. Interest Calculations: Method of calculating interest on outstanding amounts - use when interest is charged on payments

4. Insurance Requirements: Required insurance coverage - use when assets or payments need to be insured

Suggested Schedules

1. Payment Schedule: Detailed table of payment dates and amounts

2. Asset Schedule: Description of any assets involved in the agreement

3. Interest Rate Schedule: Details of applicable interest rates and calculations

4. Contact Details Schedule: Contact information for notices and communications

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Industries

Civil Law Act (Cap. 43): Foundational legislation governing basic contract law principles and rules regarding interest rates and charges in Singapore

Consumer Protection (Fair Trading) Act (Cap. 52A): Legislation protecting consumer rights in transactions, covering unfair practices and consumer protections for agreements involving consumer transactions

Moneylenders Act (Cap. 188): Regulatory framework for money lending activities, including regulations on interest rates and payment terms

Contract Law (Miscellaneous Provisions) Act: Legislation covering requirements for electronic contracts and formal requirements for valid contracts in Singapore

Personal Data Protection Act 2012: Law governing privacy and data protection obligations when collecting and processing personal data in contractual relationships

Hire Purchase Act (Cap. 125): Legislation specifically governing agreements involving goods purchased through installments, including mandatory terms and conditions

Limitation Act (Cap. 163): Law establishing time limits for enforcing contractual rights and statute of limitations for debt collection

Rules of Court: Procedural rules governing legal enforcement and debt recovery in case of default under the agreement

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

Find the exact document you need

Installment Plan Agreement

find out more

Lot Installment Agreement

find out more

Agreement To Pay Debt In Installments

find out more

Monthly Payment Agreement

find out more

Installment Payment Contract

find out more

Partial Payment Installment Agreement

find out more

Installment Sale Contract

find out more

Installment Payment Agreement

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.

Read our Privacy Policy.