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Credit Agreement For Supply Of Goods
"I need a Credit Agreement For Supply Of Goods to provide $500,000 worth of manufacturing equipment to a Singapore-based electronics company, with repayment over 36 months and personal guarantees from their directors."
1. Parties: Identification and details of the credit provider and recipient
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Credit Terms: Amount, interest rate, repayment schedule, and payment terms
5. Supply Terms: Specifications of goods, delivery terms, and quality standards
6. Security: Collateral or guarantees securing the credit
7. Default and Remedies: Consequences of default and available remedies
8. Governing Law: Specification of Singapore law as governing law
1. Insurance: Requirements for insurance of goods (used when goods are high-value or risk of damage exists)
2. Personal Guarantees: Additional personal guarantees from directors/shareholders (used when dealing with corporate borrowers)
3. Early Repayment: Terms for early repayment of credit (used when early repayment option is offered)
1. Schedule of Goods: Detailed description of goods being supplied
2. Payment Schedule: Detailed repayment schedule including dates and amounts
3. Security Documents: Forms and documents related to security arrangements
4. Personal Guarantee Form: Standard form for personal guarantees if applicable
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