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Security Deposit Agreement Form
"Need a Security Deposit Agreement Form under Singapore law for a commercial property lease starting March 2025, with a deposit of SGD 50,000 and quarterly interest payments to be made to the depositor."
1. Parties: Identification of depositor and deposit holder, including full legal names and addresses
2. Background: Context and purpose of the security deposit arrangement
3. Definitions: Key terms used in the agreement including 'Security Deposit', 'Deposit Holder', 'Depositor'
4. Deposit Amount: Specification of deposit amount, currency, and payment terms
5. Purpose of Deposit: Clear statement of what the deposit secures and conditions for its use
6. Holding of Deposit: Terms regarding how the deposit will be held and maintained
7. Return of Deposit: Conditions and process for deposit return, including timing and any deductions
8. Default and Remedies: Circumstances constituting default and available remedies
9. Governing Law: Specification of Singapore law as governing law and jurisdiction
1. Interest Provisions: Terms for interest payment on deposit, including calculation method and payment frequency
2. Alternative Dispute Resolution: Provisions for mediation or arbitration before court proceedings
3. Bank Account Details: Specific account details for deposit holding
4. Assignment: Terms regarding the ability to assign rights under the agreement
5. Force Majeure: Provisions for unforeseen circumstances affecting the agreement
1. Schedule 1 - Payment Schedule: Details of payment timing if deposit is paid in installments
2. Schedule 2 - Bank Account Details: Designated account information for deposit holding
3. Schedule 3 - Interest Calculation: Formula and examples of interest calculation if applicable
4. Schedule 4 - Authorized Signatories: List of persons authorized to give instructions regarding the deposit
Authors
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