Ƶ

Vendor Direct Deposit Authorization Form Template for Singapore

Create a bespoke document in minutes, or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Vendor Direct Deposit Authorization Form

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

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Vendor Direct Deposit Authorization Form

"I need a Vendor Direct Deposit Authorization Form for our Singapore manufacturing company that will allow multiple international suppliers to receive automated payments in different currencies, with implementation planned for March 2025."

What is a Vendor Direct Deposit Authorization Form?

The Vendor Direct Deposit Authorization Form is essential for businesses operating in Singapore that wish to streamline their vendor payment processes through electronic transfers. This document, regulated under Singapore's financial and data protection framework, enables organizations to securely set up automatic payments to vendor bank accounts. It captures crucial banking information, includes necessary authorizations, and ensures compliance with Singapore's banking regulations and data protection requirements. The form is particularly valuable for organizations seeking to reduce paper-based payments and improve payment efficiency while maintaining proper documentation for audit purposes.

What sections should be included in a Vendor Direct Deposit Authorization Form?

1. Vendor Information: Legal name, registration number, contact details, and business address of the vendor

2. Bank Account Details: Complete banking information including account number, bank name, branch code, and account type

3. Authorization Declaration: Express authorization for direct deposits and confirmation of information accuracy

4. Terms and Conditions: Standard terms governing the direct deposit arrangement and responsibilities of parties

5. Data Protection Notice: PDPA compliance statement, consent for data collection and processing

What sections are optional to include in a Vendor Direct Deposit Authorization Form?

1. Multiple Account Authorization: Additional section for vendors requiring deposits to multiple accounts or subsidiaries

2. International Transfer Details: Section for overseas vendors including SWIFT codes and correspondent bank information

3. Change Request Process: Detailed process for updating or modifying banking information in the future

4. Electronic Communication Consent: Optional consent for receiving electronic notifications and communications

What schedules should be included in a Vendor Direct Deposit Authorization Form?

1. Schedule A - Required Documentation: List of required supporting documents including void check or bank statement

2. Schedule B - Verification Requirements: Details of verification process and AML/CFT compliance requirements

3. Schedule C - Authorization Matrix: For corporate vendors, specifying authorized signatories and approval limits

4. Appendix 1 - Bank Details Form: Standardized form for capturing detailed banking information

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

Relevant legal definitions


























Clauses
























Industries

Payment and Settlement Systems (Finality and Netting) Act 2002: Primary legislation governing electronic fund transfers and ensuring finality of payment transactions in Singapore

Banking Act (Chapter 19): Core legislation regulating banking operations and transactions, including electronic banking services in Singapore

Personal Data Protection Act 2012 (PDPA): Legislative framework governing the collection, use, and disclosure of personal data, including requirements for consent in data processing

Electronic Transactions Act (Chapter 88): Legislation providing legal recognition and validation of electronic records, signatures, and transactions

AML/CFT Regulations: Anti-Money Laundering and Countering the Financing of Terrorism regulations requiring vendor identity verification and transaction monitoring

MAS Guidelines: Monetary Authority of Singapore guidelines covering outsourcing, electronic banking, and technology risk management requirements

Companies Act (Chapter 50): Legislation governing corporate documentation and authorization requirements for company representatives

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

Find the exact document you need

Security Deposit Receipt

A Singaporean legal document acknowledging receipt of security deposits, detailing terms for residential or commercial transactions.

find out more

Security Deposit Invoice

A Singapore legal document for requesting and recording security deposit payments in property and business transactions.

find out more

Rent Deposit Receipt

A Singapore legal document recording a rental security deposit payment, ensuring compliance with local rental regulations.

find out more

Real Estate Deposit Receipt

A Singapore legal document recording a property deposit, outlining terms, and ensuring compliance with property laws.

find out more

Pre Contract Deposit Agreement

A Singapore legal document outlining deposit terms for high-value transactions, ensuring compliance with contractual and property laws.

find out more

Holding Deposit Agreement

A Singapore legal document securing initial property transaction terms and deposit conditions for buyers and sellers.

find out more

Earnest Money Agreement

A Singapore legal document detailing earnest money terms for property transactions, ensuring compliance with local property laws.

find out more

Deposit Receipt

A Singapore legal document detailing deposit payment terms, ensuring compliance and protecting transaction interests.

find out more

Deposit Invoice

A Singapore business document recording advance payments, ensuring compliance with taxation and business regulations.

find out more

Deposit Form

A Singaporean legal document standardizing deposit transactions, ensuring compliance and protecting parties' interests.

find out more

Deposit Contract

A Singapore legal document formalizing deposit arrangements, detailing terms, conditions, and compliance with local legislation.

find out more

Certificate Of Deposit

A Singapore legal document detailing fixed-term deposit agreements, ensuring compliance with MAS regulations for financial institutions.

find out more

Term Deposit Form

A Singapore-compliant form establishing terms for fixed-term deposits between financial institutions and depositors.

find out more

Term Deposit Application Form

A Singapore-compliant application form for establishing term deposit accounts under MAS regulations.

find out more

Request For Return Of Security Deposit Form

A formal request document used in Singapore for the return of security deposits from landlords after lease termination.

find out more

Rental Deposit Agreement Form

A Singapore-compliant agreement establishing terms for rental security deposits between landlord and tenant.

find out more

Recurring Deposit Form

A Singapore-compliant banking form for establishing regular fixed deposits with specified terms and conditions under MAS regulations.

find out more

Paycheck Direct Deposit Form

A Singapore-compliant form authorizing automatic deposit of employee salaries into designated bank accounts.

find out more

Money Deposit Form

A Singapore-compliant form documenting the placement of funds with a financial institution, subject to MAS regulations.

find out more

Letter Of Direct Deposit

A Singapore-compliant authorization document for setting up automatic deposits into a specified bank account.

find out more

Forfeit Deposit Letter

A formal notice under Singapore law declaring the forfeiture of a deposit due to breach of contract or specified conditions.

find out more

Fixed Deposit Receipt

A Singapore-compliant document evidencing a time deposit, specifying amount, interest rate, and maturity terms.

find out more

Fixed Deposit Form

A Singapore-compliant banking document that establishes terms for fixed-term deposits between financial institutions and customers.

find out more

Fixed Deposit Application Form

A Singapore-compliant application form for establishing a fixed deposit account with a financial institution, subject to MAS regulations.

find out more

Fixed Deposit Account Opening Form

A Singapore-compliant banking form for opening fixed deposit accounts, establishing terms between financial institutions and customers under MAS regulations.

find out more

Dispute Security Deposit Deductions Letter

A Singapore-compliant formal letter detailing and justifying security deposit deductions from a tenancy agreement.

find out more

Direct Deposit Form

A Singapore-compliant authorization form for automatic deposit of payments into an employee's bank account.

find out more

Direct Authorization Form

A Singapore-compliant legal document granting specific banking or payment authorizations to financial institutions.

find out more

Car Deposit Form

A Singapore-compliant legal document formalizing vehicle purchase intention through deposit payment and establishing transaction terms.

find out more

Vendor Direct Deposit Form

A Singapore-compliant form that establishes electronic payment arrangements between companies and their vendors through direct deposit.

find out more

Security Deposit Agreement Form

A Singapore-compliant legal document establishing terms for holding and managing security deposits between parties.

find out more

Itemized Security Deposit Deduction Letter

A Singapore-compliant formal letter detailing justified deductions from a tenant's security deposit at lease end.

find out more

Direct Deposit Request Form

A Singapore-compliant form authorizing automatic deposits into a designated bank account.

find out more

Deposit Refund Form

A Singapore-compliant legal document used to request and process the return of deposits, governed by local consumer protection and contract laws.

find out more

Deposit Application Form

A Singapore-compliant legal document for opening deposit accounts with financial institutions, regulated by MAS and the Banking Act.

find out more

Certificate Of Deposit Form

A Singapore-compliant document evidencing a time deposit agreement between a bank and depositor, including terms, conditions, and deposit insurance coverage.

find out more

Cash Deposit Receipt

A legally compliant document issued by Singapore financial institutions acknowledging receipt of cash deposits.

find out more

Standard Direct Deposit Form

A Singapore-compliant form authorizing automatic electronic fund transfers into a designated bank account.

find out more

Security Deposit Release Form

A Singapore-compliant legal document that records the return of a security deposit from landlord to tenant at the end of a lease.

find out more

Vendor Direct Deposit Authorization Form

A Singapore-compliant authorization form enabling automatic electronic payments from organizations to their vendors' bank accounts.

find out more

Earnest Money Deposit Bank Guarantee

A Singapore-law governed bank guarantee securing earnest money deposit obligations in commercial transactions.

find out more

Fixed Deposit Letter

A Singapore-governed banking document confirming fixed deposit terms, amount, and duration between a bank and depositor.

find out more

Payroll Direct Deposit Form

A Singapore-compliant form authorizing automatic deposit of employee salaries into designated bank accounts.

find out more

Bank Deposit Letter

A formal confirmation of deposit terms issued by a Singapore bank, compliant with MAS regulations.

find out more

Direct Credit Authorisation Form

A Singapore-compliant authorization form enabling automated electronic fund transfers directly into designated bank accounts.

find out more

Damage Deposit Form

A Singapore-compliant form documenting security deposit terms between landlord and tenant, including payment, return conditions, and deductions.

find out more

Cash Deposit Form

A Singapore-compliant form for documenting cash deposits into financial institutions, meeting MAS regulatory requirements.

find out more

Direct Payment Form

A Singapore-compliant authorization form for setting up automated regular payments from a bank account to a specified recipient.

find out more

Direct Deposit Enrollment Form

A Singapore-compliant authorization form for setting up automatic deposits into designated bank accounts, adhering to local banking and data protection regulations.

find out more

Check Deposit Form

A Singapore-compliant banking form used to process and record check deposits into bank accounts.

find out more

Rental Deposit Form

A legal document under Singapore law that records and governs the terms of a rental security deposit between landlord and tenant.

find out more

Vehicle Deposit Agreement

A Singapore-compliant legal agreement documenting the terms of a vehicle purchase deposit and protecting both parties' interests.

find out more

Damage Deposit Receipt

A Singapore-compliant legal document acknowledging receipt of a security deposit from tenant to landlord, outlining holding and return conditions.

find out more

Security Deposit Return Letter

A Singapore-compliant formal letter documenting the return of a security deposit from landlord to tenant after lease termination.

find out more

Security Deposit Form

A Singapore-compliant legal document establishing terms and conditions for property rental security deposits between landlords and tenants.

find out more

Security Deposit Demand Letter

A formal document used in Singapore to request the return of a security deposit, governed by local property and contract laws.

find out more

Cash Deposit Agreement

A legally binding agreement under Singapore law governing the terms and conditions of cash deposits between a financial institution and depositor.

find out more

Deposit Release Form

A Singapore-compliant legal document authorizing the release of a deposit from one party to another.

find out more

Rental Deposit Agreement

A Singapore-governed agreement establishing terms for rental deposit management between landlords and tenants.

find out more

Deposit Acknowledgement Receipt

A legally binding receipt document under Singapore law that confirms the payment and receipt of a deposit between parties.

find out more

Vendor ACH Authorization Form

A Singapore-compliant authorization form enabling automated electronic payments between companies and their vendors through the ACH system.

find out more

Bank Direct Deposit Authorization Form

A Singapore-compliant authorization form enabling automatic deposits into a designated bank account, adhering to MAS regulations and PDPA requirements.

find out more

Bank Deposit Form

A Singapore-compliant document used to establish a deposit account relationship between a bank and customer under MAS regulations.

find out more

Direct Deposit Authorization Form

A Singapore-compliant authorization form for setting up automatic electronic fund transfers to bank accounts.

find out more

Direct Debit Authorization Form

A Singapore-compliant authorization form enabling automated payment collection from a designated bank account.

find out more

ACH Direct Deposit Form

A Singapore-compliant form authorizing automatic electronic payment deposits from employer to employee's bank account.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

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

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

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

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.