Security Deposit Receipt Generator for Singapore

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Security Deposit Receipt Template

I need a Security Deposit Receipt Template for a commercial property rental in Singapore, where we're receiving a S$50,000 deposit from a retail tenant starting March 2025, with specific conditions for deductions related to property damage.

Document background

The Security Deposit Receipt Template is a crucial document used in Singapore for formally acknowledging the receipt of security deposits in various transactions. This document is essential for protecting both parties' interests and ensuring compliance with Singapore's financial and property regulations. It includes detailed information about the deposit amount, payment method, parties involved, purpose of the deposit, and conditions for its return. The template is designed to align with Singapore's legal framework, including the Security and Futures Act and Civil Law Act, making it suitable for both residential and commercial transactions.

Suggested Sections

1. Receipt Details: Basic details including receipt number, date, amount received, and form of payment (cash, check, bank transfer)

2. Payer Information: Full name, address, contact details, and identification details of the person/entity paying the deposit

3. Receiving Party Details: Full name, address, contact details of the person/entity receiving the deposit

4. Purpose Statement: Clear statement specifying the purpose of the security deposit and reference to the main agreement

5. Return Conditions: Terms and timeframe for the return of the deposit, including any conditions that must be met

6. Acknowledgment: Formal acknowledgment of receipt and agreement to the terms stated

7. Signatures: Space for signatures of both parties and date of signing

Optional Sections

1. Interest Terms: Terms regarding any interest accrual on the deposit, applicable when the deposit will earn interest

2. Permitted Deductions: Detailed list of circumstances where deductions from the deposit are permitted, relevant for longer-term deposits

3. Third Party Details: Information about any third-party stakeholders or trustees holding the deposit, used when deposit is held in escrow

4. Dispute Resolution: Procedures for resolving any disputes related to the deposit, recommended for larger deposits

Suggested Schedules

1. Payment Evidence: Copy of check, bank transfer receipt, or other proof of payment

2. ID Documentation: Copies of identification documents of parties involved

3. Related Agreement Reference: Reference details or copy of the main agreement requiring the security deposit

4. Bank Account Details: Details of the account where the deposit is being held

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

Security Deposit
Deposit Holder
Depositor
Receipt Date
Deposit Amount
Payment Method
Return Date
Permitted Deductions
Interest Rate
Business Day
Banking Day
Deposit Purpose
Associated Agreement
Notice Period
Force Majeure

Clauses

Receipt Acknowledgment
Payment Details
Deposit Amount
Return Conditions
Interest
Permitted Deductions
Notice Requirements
Dispute Resolution
Force Majeure
Governing Law
Confidentiality
Assignment
Amendments
Severability
Entire Agreement

Relevant Industries

Real Estate
Banking
Construction
Retail
Hospitality

Relevant Teams

Finance
Legal
Operations
Compliance
Property Management

Relevant Roles

Property Manager
Finance Manager
Legal Counsel
Compliance Officer
Real Estate Agent

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Let's create your Security Deposit Receipt

Authors

Alex Denne

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