Direction To Pay Agreement

Direction To Pay Agreement Template for Singapore

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Key Requirements PROMPT example:

"I need a Direction To Pay Agreement for my Singapore construction company to authorize monthly payments of SGD 50,000 to our main supplier, starting from January 2025, with specific conditions about payment verification and default scenarios."

Document background

The Direction To Pay Agreement is commonly used in Singapore's financial and commercial landscape where formal payment instructions need to be documented and executed. This document is particularly relevant when payments involve multiple parties, specific conditions, or complex arrangements. It provides a clear audit trail and legal framework for payment obligations, ensuring compliance with Singapore's banking regulations and financial laws. The agreement is especially useful in scenarios involving project financing, property transactions, or structured payment arrangements where formal documentation of payment instructions is required for legal certainty and risk management.

Suggested Sections

1. Parties: Identifies all parties involved in the agreement including the payer, payee, and any intermediaries

2. Background: Explains the context and circumstances leading to the direction to pay

3. Definitions: Defines key terms used throughout the agreement

4. Payment Details: Specifies amount, currency, payment method, and timing

5. Payment Instructions: Details the specific directions for making the payment

6. Representations and Warranties: Statements of fact and assurances from the parties

7. Governing Law: Specifies Singapore law as governing law

Optional Sections

1. Conditions Precedent: Conditions that must be met before payment is made - use when payment is contingent on certain conditions being met

2. Security Provisions: Details of any security arrangements - use when payment involves security measures or collateral

3. Default Provisions: Consequences of failure to pay - use when specific default remedies need to be outlined

Suggested Schedules

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

2. Bank Account Details: Banking information for making payments

3. Supporting Documents: Any relevant underlying agreements or documents referenced

4. Authorization Forms: Required bank or institutional forms for processing payments

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 and Finance
Real Estate
Construction
Trade and Commerce
Investment

Relevant Teams

Finance
Treasury
Legal
Accounts Payable
Compliance

Relevant Roles

Chief Financial Officer
Finance Director
Treasury Manager
Project Finance Manager
Legal Counsel

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Let's create your Direction To Pay Agreement

Authors

Alex Denne

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