Civil Law Act (Cap. 43): Primary legislation governing contractual relationships, including requirements for valid contracts and rules regarding interest rates.
Moneylenders Act (Cap. 188): Regulates money lending activities, including interest rate restrictions, payment terms, and licensing requirements for lenders.
Consumer Protection (Fair Trading) Act (Cap. 52A): Ensures fair trading practices, protects consumer rights, and prevents unfair practices in consumer transactions.
Personal Data Protection Act 2012 (PDPA): Governs the collection, use, and disclosure of personal data, including consent requirements and data usage limitations.
Limitation Act (Cap. 163): Sets time limits for enforcing contractual rights and statute of limitations for debt collection actions.
Contract Law Principles: Fundamental principles including offer and acceptance, consideration, capacity to contract, and free consent requirements.
Interest Rate Regulations: Specific provisions regarding interest rate caps and restrictions applicable to installment payment agreements.
Documentation Requirements: Legal requirements for proper documentation, payment schedules, and record-keeping in installment agreements.
Default and Remedy Provisions: Legal framework for handling defaults and implementing remedies in installment payment agreements.
Dispute Resolution Framework: Legal mechanisms and procedures for resolving disputes arising from installment payment agreements.
