Ƶ

Payment Agreement Template for Singapore

A Payment Agreement under Singapore law is a legally binding document that establishes the terms and conditions for monetary payments between parties. It is governed by Singapore's Contract Act and related financial regulations, including the Payment Services Act 2019. The agreement details payment amounts, schedules, methods, and remedies for default, while incorporating Singapore's specific requirements for interest rates, limitation periods, and electronic transactions.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Get template free

Your data doesn't train Genie's AI

You keep IP ownership of your docs

4.6 / 5
4.6 / 5
4.8 / 5

What is a Payment Agreement?

The Payment Agreement is essential for businesses and individuals in Singapore requiring structured payment arrangements. This document is commonly used when parties need to formalize payment obligations, whether for goods, services, loans, or other financial commitments. The agreement must comply with Singapore's legal framework, including the Contract Act, Payment Services Act, and Electronic Transactions Act. It typically includes detailed payment terms, schedules, default provisions, and remedies, providing legal protection for all parties involved.

What sections should be included in a Payment Agreement?

1. Parties: Identification and details of all parties to the agreement

2. Background: Context and purpose of the payment agreement

3. Definitions: Key terms used throughout the agreement

4. Payment Terms: Amount, currency, and payment schedule

5. Payment Method: Accepted methods of payment and processing details

6. Default and Remedies: Consequences of payment default and available remedies

7. Governing Law: Specification of Singapore law as governing law

What sections are optional to include in a Payment Agreement?

1. Security Provisions: Details of any collateral or security required for securing the payment obligations

2. Interest Provisions: Terms regarding interest rates, calculations, and payment of interest

3. Force Majeure: Provisions dealing with unforeseen circumstances affecting payment obligations

4. Currency Exchange: Provisions dealing with exchange rates and currency conversion for international payments

What schedules should be included in a Payment Agreement?

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

2. Bank Details: Banking information and account details for making payments

3. Security Documents: Documentation relating to any security or collateral arrangements

4. Calculation Methods: Methodology for calculating interest, late payments, or other variable amounts

Authors

Alex Denne

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

Jurisdiction

Singapore

Publisher

Ƶ

Document Type

Service Contract

Cost

Free to use

Find the exact document you need

Prime Contract

A principal agreement between client and contractor for project execution, governed by Singapore law.

Download

Transport Agreement

A legally binding agreement governing transportation services under Singapore law, outlining service terms, obligations, and compliance requirements.

Download

Cleaning Contract

A Singapore-law governed agreement establishing terms for professional cleaning services, incorporating local regulatory requirements and industry standards.

Download

Electrical Contract

A legally binding agreement for electrical works in Singapore, compliant with EMA regulations and local safety standards.

Download

Service Provision Agreement

A legally binding agreement for service provision between parties, governed by Singapore law.

Download

Contract Management Plan

A structured framework document for managing organizational contracts in accordance with Singapore's legal requirements and best practices.

Download

HVAC Service Contract

A Singapore-governed agreement for HVAC system maintenance and servicing, compliant with local building and environmental regulations.

Download

Housekeeping Contract

A Singapore-law governed agreement establishing terms and conditions for housekeeping services, including scope, payment, and service standards.

Download

Delivery Contract

A Singapore-law governed agreement establishing terms and conditions for delivery services between a service provider and customer.

Download

Service Occupancy Agreement

A Singapore law agreement governing employee accommodation provided as part of employment terms.

Download

Landscaping Contract

A legally binding agreement for landscaping services under Singapore law, outlining terms for landscape installation, maintenance, and management.

Download

Plumbing Contract

A legally binding agreement for plumbing works under Singapore law, complying with PUB regulations and building codes.

Download

HVAC Maintenance Contract

A Singapore-law governed agreement for HVAC system maintenance services, compliant with local building and safety regulations.

Download

Professional Services Contract

A Singapore-law governed agreement for professional service provision, defining service scope, obligations, and commercial terms.

Download

Directors Service Agreement

A Singapore-law governed agreement establishing the terms of a director's appointment and service to a company's board.

Download

Digital Marketing Agreement

A Singapore law-governed agreement establishing terms for digital marketing services, including scope, deliverables, and compliance requirements.

Download

Customer Service Agreement

A legally binding agreement for customer service provision under Singapore law, defining service terms and consumer protections.

Download

Master Service Agreement

A Singapore-law governed framework agreement establishing core terms for ongoing service provision between parties.

Download

Vendor Services Agreement

A Singapore law-governed agreement defining terms for vendor service provision, including service specs, payment terms, and compliance requirements.

Download

Vending Machine Agreement

A Singapore-law governed agreement regulating the placement and operation of vending machines, including revenue sharing and compliance requirements.

Download

Transportation Contract

A Singapore-law governed agreement establishing terms for transportation services, compliant with local transport regulations and safety requirements.

Download

Support Agreement

A Singapore law-governed agreement establishing terms for provision of support services, including service levels, maintenance obligations, and compliance requirements.

Download

Simple Contract For Services

A straightforward service agreement under Singapore law defining the terms between a service provider and client.

Download

Service Provider Contract

A Singapore law-governed agreement defining terms for service provision between a provider and client, including service scope, payment terms, and compliance requirements.

Download

Service Agreement Contract

A Singapore law-governed agreement defining terms for provision of services between parties.

Download

Procurement Agreement

A Singapore law-governed agreement establishing terms and conditions for the purchase of goods or services between parties.

Download

Payment Agreement

A legally binding agreement under Singapore law that establishes terms and conditions for monetary payments between parties.

Download

Marketing Services Agreement

A Singapore-law governed agreement defining the terms and conditions for marketing services between a service provider and client.

Download

Managed Services Agreement

A Singapore law-governed agreement for the provision of managed services, establishing service levels, responsibilities, and compliance requirements.

Download

Hosting Agreement

A Singapore-law governed agreement establishing terms for hosting services, including infrastructure provision, maintenance, and regulatory compliance.

Download

General Service Agreement

A legally binding agreement for service provision under Singapore law, outlining terms between service provider and client.

Download

Daycare Contract

A Singapore-law governed agreement between daycare providers and parents/guardians establishing terms for childcare services.

Download

Consulting Contract

A Singapore law-governed agreement establishing terms for professional consulting services, including scope, fees, and obligations.

Download

Client Agreement Contract

A Singapore law-governed agreement defining the terms between service providers and clients, including service scope, payments, and obligations.

Download

Babysitting Contract

A Singapore-law governed agreement establishing terms and conditions for babysitting services, including duties, compensation, and safety protocols.

Download
See more related templates

ұԾ’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ұԾ’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it