Deposit Contract Template

Deposit Contract Template for Singapore

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Key Requirements PROMPT example:

I need a Deposit Contract Template for a property development project in Singapore, where multiple investors will be making staged deposits totaling SGD 5 million by March 2025, with quarterly interest payments and specific release conditions.

Document background

The Deposit Contract Template serves as a foundational document for managing deposit arrangements under Singapore law. This template is essential when parties need to formalize the holding of funds, whether for security, reservation, or other commercial purposes. The document incorporates key provisions required by Singapore legislation, including the Banking Act and Civil Law Act, and can be customized based on specific business needs. The template includes provisions for deposit amount, payment terms, return conditions, and may include interest calculations where applicable.

Suggested Sections

1. Parties: Identifies the depositor and depositee with full legal names and addresses

2. Background: Explains the context and purpose of the deposit arrangement

3. Definitions: Defines key terms used throughout the agreement

4. Deposit Amount: Specifies the amount and currency of the deposit

5. Payment Terms: Details how and when the deposit will be paid

6. Purpose of Deposit: Explains what the deposit is for and how it will be used

7. Return of Deposit: Specifies conditions for return of deposit

8. Governing Law: Confirms Singapore law applies

Optional Sections

1. Interest: Terms for any interest payable on the deposit

2. Security Measures: Provisions for securing the deposit

3. Insurance: Requirements for insuring the deposit

4. Forfeiture Conditions: Circumstances under which deposit may be forfeited

Suggested Schedules

1. Payment Schedule: Detailed schedule of payment dates and amounts

2. Bank Details: Banking information for deposit payments

3. Interest Calculation: Method and examples of interest calculations if applicable

4. Required Documents: List of documents required for KYC/due diligence

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 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

Banking
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Relevant Teams

Finance
Legal
Treasury
Compliance
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Relevant Roles

Chief Financial Officer
Treasury Manager
Financial Controller
Compliance Officer
Risk Manager

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Let's create your Deposit Contract

Authors

Alex Denne

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