Contract Act (Cap. 53): Primary legislation governing contract formation, validity, and enforcement in Singapore, essential for ensuring the advance payment confirmation letter is legally binding
Banking Act (Cap. 19): Regulates banking operations and financial transactions in Singapore, including payment processing and banking documentation requirements
Electronic Transactions Act (Cap. 88): Governs electronic transactions and digital signatures, relevant for electronic advance payment confirmations and records
Payment Services Act 2019: Regulates payment systems and payment service providers in Singapore, ensuring compliance with payment processing requirements
Sale of Goods Act (Cap. 393): Governs commercial transactions involving goods, relevant when advance payment is related to goods purchase
Unfair Contract Terms Act (Cap. 396): Regulates unfair terms in contracts, ensuring advance payment terms are fair and enforceable
Currency Act (Cap. 69): Governs currency usage and transactions in Singapore, relevant for payment denominations and currency specifications
Exchange Control Act: Regulates international financial transactions and currency exchanges, applicable for cross-border advance payments
Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act: Contains anti-money laundering provisions relevant to significant financial transactions and payments
MAS Notice 626: Guidelines on Prevention of Money Laundering and Countering the Financing of Terrorism, ensuring compliance with AML/CFT requirements
Evidence Act (Cap. 97): Governs admissibility of documents as evidence, ensuring the advance payment confirmation letter meets legal evidence requirements
