Contracts Act (Cap. 53): Primary legislation governing contract formation, validity requirements, and consideration principles in Singapore. Essential for the basic structure and enforceability of the guarantee agreement.
Banking Act (Cap. 19): Regulates banking operations in Singapore, including provisions related to bank guarantees and financial security requirements that must be complied with in payment guarantee agreements.
Unfair Contract Terms Act (Cap. 396): Controls the use of exclusion clauses and sets reasonableness requirements for contract terms. Critical for ensuring the guarantee terms are fair and enforceable.
Companies Act (Cap. 50): Governs corporate capacity to provide guarantees, directors' authority, and corporate benefit requirements. Essential when any party to the guarantee is a company.
Common Law Principles on Guarantees: Establishes fundamental principles regarding distinction between guarantees and indemnities, rights of guarantors, and circumstances for discharge of guarantees.
Statute of Frauds Requirements: Specifies the formal requirements for guarantees, including written form and signature requirements to ensure enforceability.
Singapore Court of Appeal Precedents: Relevant case law decisions that guide the interpretation and enforcement of guarantee provisions in Singapore.
MAS Guidelines: Regulatory guidelines issued by the Monetary Authority of Singapore that may affect the terms and conditions of payment guarantees.
Anti-Money Laundering Regulations: Compliance requirements for preventing money laundering that must be considered in payment guarantee agreements, especially in international transactions.
