Release Of Security Agreement

Release Of Security Agreement Template for Singapore

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Key Requirements PROMPT example:

"I need a Release of Security Agreement under Singapore law to discharge our company's security interest over equipment and machinery following full repayment of a SGD 2.5M loan that was secured against these assets in January 2025."

Document background

A Release of Security Agreement is utilized when a security interest needs to be formally discharged, typically following full repayment of a secured obligation or restructuring of security arrangements. Under Singapore law, this document must comply with specific statutory requirements and may need to be registered with authorities such as ACRA. The agreement details the original security arrangement, confirms its release, and includes provisions for the return of security documents. It's particularly important in Singapore's financial sector where security interests are commonly used in lending and investment transactions.

Suggested Sections

1. Parties: Identification of the security holder and security provider, including company registration details and registered addresses

2. Background: Details of the original security agreement, including date of creation, registration details, and reason for release

3. Definitions: Key terms used in the release agreement including 'Security', 'Original Security Agreement', 'Released Assets'

4. Release Declaration: Formal statement releasing the security interest and confirmation that all secured obligations have been satisfied

5. Return of Documents: Provisions regarding return of original security documents and cancellation of registrations

6. Execution: Signing requirements and formalities under Singapore law

Optional Sections

1. Partial Release Provisions: Used when only part of the security is being released, specifying which assets or obligations remain secured

2. Surviving Obligations: Specifies any obligations that continue after release, including confidentiality and indemnity provisions

3. Further Assurance: Obligation to execute additional documents if needed for effectiveness of the release

Suggested Schedules

1. Description of Released Security: Detailed description of security interests being released, including asset details and registration numbers

2. Original Security Agreement: Copy or details of the original security agreement being released, including date and parties

3. Property Schedule: Details of any property involved in the release, including title particulars if applicable

4. Filing Forms: Required ACRA forms and other regulatory documents for registering the release

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
Corporate Finance
Investment

Relevant Teams

Legal
Finance
Treasury
Corporate Secretarial
Risk Management

Relevant Roles

Chief Financial Officer
Treasury Manager
Legal Counsel
Finance Director
Company Secretary

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Authors

Alex Denne

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