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Letter For Down Payment
"I need a Letter for Down Payment for a property purchase in Singapore, where my company will pay a 20% deposit of SGD 200,000 to secure a commercial building, with the payment to be made by March 15, 2025, and including specific refund conditions if the main purchase falls through."
1. Sender Details: Full name, address, and contact information of the party making the payment
2. Recipient Details: Full name, address, and contact information of the party receiving the payment
3. Payment Details: Amount, purpose, and reference to the main transaction
4. Payment Terms: Method of payment, due date, and banking details
5. Transaction Reference: Reference to the main transaction or contract this down payment relates to
1. Refund Conditions: Terms under which the down payment may be refunded, used when there's a possibility of transaction cancellation
2. Security Provisions: Terms regarding how the down payment will be secured, used for large transactions or when required by industry practice
3. Default Consequences: Actions to be taken if full payment is not made, used for significant transactions or high-risk situations
1. Payment Schedule: Detailed breakdown of payment installments if applicable
2. Bank Details: Separate attachment with complete banking information
3. Transaction Documentation: References to main contract or transaction documents
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