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Acknowledgement Receipt Of Cash Loan Template for Singapore

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Key Requirements PROMPT example:

Acknowledgement Receipt Of Cash Loan

"I need an Acknowledgement Receipt Of Cash Loan for a personal loan of SGD 10,000 to be repaid in full by March 15, 2025, with no interest and no security required."

Document background
The Acknowledgement Receipt Of Cash Loan is a crucial document in Singapore's lending landscape, designed to provide clear documentation of loan disbursement and acceptance. It serves as evidence of the transfer of funds from lender to borrower and helps prevent future disputes regarding the loan's existence or amount. This document is particularly important in Singapore where financial transactions are strictly regulated under the Moneylenders Act and related legislation. It should be used whenever a cash loan is provided, whether in a professional or personal context, and typically includes details such as loan amount, date of disbursement, party information, and basic repayment terms.
Suggested Sections

1. Lender Information: Full name, identification/registration number, and address of the lender

2. Borrower Information: Full name, identification number, and address of the borrower

3. Loan Details: Amount borrowed, date of disbursement, and currency

4. Acknowledgement Statement: Clear statement acknowledging receipt of the loan amount

5. Repayment Terms: Due date, payment method, and any installment details

Optional Sections

1. Interest Rate: Details of interest rate if applicable, include when loan includes interest

2. Security/Collateral: Details of any security provided, include when loan is secured

3. Witness Details: Information about witnesses, include when additional verification is desired

Suggested Schedules

1. Proof of Transfer: Bank transfer receipt or cash handling documentation

2. Identity Documents: Copies of identification documents of parties involved

3. Payment Schedule: Detailed schedule if loan involves installment payments

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions




















Clauses




















Industries

Moneylenders Act (Chapter 188): Primary legislation regulating moneylending activities in Singapore, covering licensing requirements, loan documentation standards, and interest rate caps. Essential for ensuring compliance with moneylending regulations.

Contracts Act (Chapter 53): Fundamental law governing contract formation and validity in Singapore, including essential elements like offer, acceptance, and consideration. Crucial for ensuring the loan acknowledgment is legally binding.

Civil Law Act (Chapter 43): Contains provisions regarding interest rates and enforcement of contractual obligations. Section 6 specifically deals with interest rate regulations.

Stamp Duties Act (Chapter 312): Governs the requirements for proper stamping of loan documents and specifies applicable stamp duty rates for loan agreements in Singapore.

Personal Data Protection Act (PDPA): Regulates the collection, use, and disclosure of personal data in Singapore. Relevant for handling borrower's personal information in loan documentation.

Unlawful Moneylending Rules: Regulations preventing illegal moneylending activities and ensuring compliance with legal lending practices in Singapore.

Anti-Money Laundering Regulations: Requirements for preventing money laundering through loan transactions, including necessary due diligence and documentation.

Currency Control Regulations: Rules governing currency restrictions and international money transfers, if applicable to the loan transaction.

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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