Document background
The Debt Agreement is a fundamental legal instrument used in Singapore for documenting loan arrangements between parties. It is essential when any form of lending occurs, whether in commercial, personal, or institutional contexts. The document ensures compliance with Singapore's strict lending regulations, including the Moneylenders Act and Civil Law Act. This agreement typically includes detailed terms about the loan amount, interest calculations, repayment schedules, security arrangements, and default provisions. It serves to protect both lender and borrower by clearly defining their rights and obligations, while ensuring enforceability under Singapore law.
