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Note And Security Agreement for Singapore

Note And Security Agreement Template for Singapore

A Note and Security Agreement under Singapore law is a comprehensive legal document that combines a promissory note with security arrangements. It documents both the terms of a loan and the collateral securing it, governed by Singapore's robust financial and security laws. The agreement includes detailed provisions for loan terms, security interests, enforcement rights, and complies with Singapore's registration and perfection requirements.

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What is a Note And Security Agreement?

The Note and Security Agreement is commonly used in Singapore when parties wish to combine loan documentation with security arrangements in a single instrument. This approach is particularly efficient for straightforward lending transactions where separate loan and security documentation would be unnecessarily complex. The document typically covers loan amount, interest rates, repayment terms, security details, enforcement mechanisms, and complies with Singapore's Securities and Futures Act and related legislation. It's particularly useful for business loans secured against specific assets or property.

What sections should be included in a Note And Security Agreement?

1. Parties: Identification of lender and borrower/security provider

2. Background: Context of the loan and security arrangement

3. Definitions: Key terms used throughout the agreement

4. Loan Terms: Principal amount, interest rate, repayment schedule

5. Security Grant: Description of security interest being granted

6. Representations and Warranties: Statements of fact by the security provider

7. Covenants: Ongoing obligations of the security provider

8. Events of Default: Circumstances triggering enforcement rights

9. Enforcement: Rights and remedies upon default

What sections are optional to include in a Note And Security Agreement?

1. Guarantee Provisions: Additional provisions applicable when a third-party guarantee is included for the loan

2. Intercreditor Provisions: Provisions governing arrangements between multiple creditors when more than one lender is involved

3. Currency Provisions: Provisions dealing with foreign exchange considerations for cross-border transactions

What schedules should be included in a Note And Security Agreement?

1. Schedule of Secured Assets: Detailed list and description of assets subject to security

2. Repayment Schedule: Detailed schedule of payment dates and amounts

3. Form of Notice: Template notices required for perfection of security

4. Conditions Precedent: List of required documents and conditions to be satisfied

Authors

Alex Denne

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

Jurisdiction

Singapore

Publisher

Ƶ

Document Type

Security Agreement

Cost

Free to use
Relevant legal definitions






































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Industries

Securities and Futures Act (Cap. 289): Primary legislation governing securities, securities markets, and the offering and trading of securities in Singapore

Companies Act (Cap. 50): Key legislation governing corporate entities and their operations, including creation and registration of company charges

Personal Property Securities Act: Regulates security interests in personal property and establishes priority rules

Contract Law (Amendment) Act 2012: Updates to Singapore contract law principles affecting formation and enforcement of agreements

Electronic Transactions Act (Cap. 88): Governs electronic signatures and digital documentation requirements

Conveyancing and Law of Property Act (Cap. 61): Regulates property transactions and security interests in real property

Registration of Deeds Act (Cap. 269): Establishes requirements for registration of legal documents including security instruments

Moneylenders Act (Cap. 188): Regulates moneylending activities and related security arrangements if applicable

Payment and Settlement Systems (Finality and Netting) Act: Governs payment systems and settlement finality in financial transactions

Banking Act (Cap. 19): Regulates banking institutions and their security arrangements

Bankruptcy Act (Cap. 20): Addresses treatment of security interests in bankruptcy scenarios

Insolvency, Restructuring and Dissolution Act 2018: Modern framework for corporate insolvency and its impact on security interests

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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