Unsecured Directors Loan Agreement Generator for Singapore

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Unsecured Directors Loan Agreement Template

Need an Unsecured Directors Loan Agreement Template for a S$250,000 loan to our company director, with monthly repayments over 3 years starting March 2025, including an early repayment option without penalty.

Document background

The Unsecured Directors Loan Agreement Template is essential for Singapore companies extending loans to their directors without requiring security. This document ensures compliance with the Companies Act (Chapter 50) and corporate governance requirements while protecting both the company's and director's interests. It's particularly relevant when directors require funding for personal or business purposes, and the company is willing to provide it without security. The agreement covers crucial elements including loan amount, interest rates, repayment terms, and default provisions, all within Singapore's legal framework.

Suggested Sections

1. Parties: Identifies the company and director(s) entering into the loan agreement

2. Background: Context of the loan and relationship between parties

3. Definitions: Key terms used throughout the agreement

4. Loan Amount and Purpose: Specifies the loan amount and intended use

5. Interest Rate: Details of interest rate and calculation method

6. Repayment Terms: Schedule and method of repayment

7. Events of Default: Circumstances constituting default and consequences

8. Representations and Warranties: Standard declarations by both parties

9. Governing Law: Specifies Singapore law as governing law

Optional Sections

1. Security: Optional security arrangements if later required

2. Insurance: Life or key person insurance requirements for larger loans or higher risk situations

3. Early Repayment: Terms for early loan repayment when such option might be contemplated

4. Assignment: Rights to assign the loan when transfer might be needed

Suggested Schedules

1. Repayment Schedule: Detailed breakdown of repayment dates and amounts

2. Board Resolution: Copy of board approval for the loan

3. Shareholders' Resolution: Copy of shareholders' approval if required under Companies Act

4. Interest Calculation Examples: Illustrative examples of interest calculations

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

Private Companies
Family Businesses
Start-ups
Professional Services

Relevant Teams

Finance
Legal
Corporate Secretarial
Board Affairs
Compliance
Corporate Governance

Relevant Roles

Company Director
Company Secretary
Chief Financial Officer
Chief Executive Officer
Financial Controller
Corporate Counsel

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Let's create your Unsecured Directors Loan Agreement

Authors

Alex Denne

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