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Third Party Payment Agreement
"Need a Third Party Payment Agreement under Singapore law where our parent company in Hong Kong will pay a $2M debt owed by our Singapore subsidiary to a local supplier, with monthly installments starting from March 2025."
1. Parties: Identification of all three parties: Payer, Payee, and Payment Facilitator
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement including payment-related terminology
4. Payment Terms: Detailed provisions regarding amount, currency, timing, and method of payments
5. Obligations of Parties: Specific duties and responsibilities of each party in the payment arrangement
6. Representations and Warranties: Statements of fact and assurances made by each party
7. Term and Termination: Duration of agreement and conditions for termination
8. Governing Law and Jurisdiction: Specification of Singapore law as governing law and jurisdiction for disputes
1. Force Majeure: Provisions for unforeseen circumstances affecting payment obligations
2. Confidentiality: Provisions for protecting sensitive payment and commercial information
3. Anti-Money Laundering Compliance: Specific provisions regarding AML compliance and procedures
4. Data Protection: Provisions regarding handling of personal data in payment processing
1. Payment Schedule: Detailed breakdown of payment amounts, frequencies, and due dates
2. Bank Details Schedule: Banking and account information for all parties
3. Required Documents: List of documents required for payment processing and verification
4. Compliance Procedures: Detailed procedures for regulatory compliance and payment verification
Authors
Applicable Law
Business Day
Commencement Date
Confidential Information
Creditor
Default Event
Due Date
Effective Date
Force Majeure Event
Original Debtor
Outstanding Amount
Party/Parties
Payment Amount
Payment Currency
Payment Date
Payment Instruction
Payment Method
Payment Obligation
Payment Schedule
Payment Terms
Regulatory Authority
Singapore Dollars
Third Party Payer
Transaction
Working Day
Payment Terms
Payment Method
Payment Schedule
Third Party Obligations
Original Debtor Obligations
Creditor Rights
Conditions Precedent
Representations and Warranties
Default Events
Remedies
Set-off Rights
Banking Instructions
Currency Provisions
Notice Requirements
Confidentiality
Force Majeure
Assignment
Amendments
Governing Law
Dispute Resolution
Severability
Entire Agreement
Counterparts
Compliance with Laws
Anti-Money Laundering
Record Keeping
Termination
Indemnification
Liability Limitations
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