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Seller Financing Agreement
"Need a Seller Financing Agreement for the sale of my manufacturing equipment worth SGD 500,000 to a small business, with monthly payments over 3 years and a 15% down payment, to be executed by March 2025."
1. Parties: Identification of seller and buyer, including full legal names and addresses
2. Background: Context of the transaction and brief description of the financing arrangement
3. Definitions: Key terms used throughout the agreement
4. Purchase Price and Financing Terms: Total purchase price, down payment, loan amount, interest rate, and payment schedule
5. Security and Collateral: Details of assets securing the loan
6. Payment Terms: Payment mechanics, dates, and methods
7. Default Provisions: Consequences of default and remedies available
8. Representations and Warranties: Standard declarations by both parties
9. Governing Law: Specification of Singapore law as governing law
1. Insurance Requirements: Optional section specifying insurance requirements when valuable assets are involved as security
2. Prepayment Provisions: Optional section detailing terms for early repayment when such options are allowed
3. Third Party Guarantees: Optional section covering details of any guarantors when additional security is required
4. Assignment Rights: Optional section specifying rights to assign the agreement when assignment might be contemplated
1. Payment Schedule: Detailed amortization table showing payment dates and amounts
2. Property Description: Detailed description of property or assets being financed
3. Security Documents: Forms of security documents, mortgages, or charges
4. Condition Reports: For asset financing, condition of assets at time of agreement
Authors
Assets
Business Day
Closing Date
Collateral
Default Event
Default Interest Rate
Down Payment
Effective Date
Encumbrance
Event of Default
Finance Amount
Finance Period
Financial Indebtedness
Instalment Payment
Interest Rate
Late Payment Fee
Loan Amount
Material Adverse Effect
Maturity Date
Payment Date
Payment Schedule
Permitted Encumbrance
Principal Amount
Purchase Price
Repayment Schedule
Security
Security Documents
Security Interest
Seller Financing
SGD
Singapore Business Day
Term
Transaction Documents
Financing Terms
Payment Terms
Interest Rate
Security and Collateral
Default and Remedies
Representations and Warranties
Covenants
Conditions Precedent
Insurance Requirements
Prepayment Rights
Assignment and Transfer
Title and Ownership
Risk and Possession
Enforcement Rights
Default Interest
Notices
Amendments and Waivers
Confidentiality
Force Majeure
Indemnification
Dispute Resolution
Governing Law
Severability
Entire Agreement
Term and Termination
Further Assurance
Registration and Stamp Duty
Costs and Expenses
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