Promissory Note For Tuition Fee With Partial Payment Template for Singapore

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Key Requirements PROMPT example:

Promissory Note For Tuition Fee With Partial Payment

"I need a Promissory Note For Tuition Fee With Partial Payment for a medical school student who will pay SGD 45,000 in monthly installments over 24 months starting March 2025, with a parent as guarantor."

Document background

The Promissory Note For Tuition Fee With Partial Payment is a crucial document in Singapore's educational sector, particularly when students require structured payment plans for their education. This instrument, governed by Singapore law, provides legal protection for both educational institutions and students by clearly documenting the commitment to pay tuition fees in installments. It's commonly used when full upfront payment isn't possible, and includes specific payment schedules, terms, and conditions. The document ensures compliance with Singapore's educational and financial regulations while providing a clear framework for partial payments and potential remedies in case of default.

Suggested Sections

1. Promise to Pay: Clear statement of the debt amount and promise to repay by the maker of the note

2. Payment Schedule: Detailed breakdown of installment amounts and due dates for tuition fee payments

3. Maker Details: Full identification and contact information of the person making the promise to pay

4. Payee Details: Full identification and contact information of the educational institution receiving payment

5. Date and Execution: When the note is signed and becomes effective, including execution requirements

Optional Sections

1. Interest Rate: Terms for interest on late payments or outstanding amounts, including calculation method and rate

2. Acceleration Clause: Provision making entire amount due upon default of any installment payment

3. Guarantor Section: Details and obligations of any person guaranteeing the payment of the note

4. Default and Remedies: Consequences of default and available remedies for the payee

Suggested Schedules

1. Schedule A - Payment Schedule: Detailed table showing all payment dates, installment amounts, and running balance

2. Schedule B - Course Details: Information about the educational program being funded, including course name, duration, and total fees

3. Schedule C - Institution Policies: Relevant institutional policies regarding fees, payments, and refunds

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

Clauses

Relevant Industries

Education
Higher Education
Professional Training

Relevant Teams

Finance
Admissions
Legal
Student Services
Administration

Relevant Roles

Finance Manager
Admissions Officer
Bursar
Student Services Administrator

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Let's create your Promissory Note For Tuition Fee With Partial Payment

Authors

Alex Denne

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