Agreement Letter For Receiving Money

Agreement Letter For Receiving Money Template for Singapore

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Key Requirements PROMPT example:

"I need an Agreement Letter For Receiving Money to document a personal loan of SGD 50,000 from my uncle in Singapore, with the funds to be received in three installments between January and March 2025."

Document background

The Agreement Letter For Receiving Money is a crucial document used in Singapore to formally document and acknowledge monetary transactions between parties. It serves as legal evidence of fund transfer and receipt, outlining the terms, conditions, and purpose of the payment. This document is particularly important in Singapore's highly regulated financial environment, where transparency and compliance with anti-money laundering laws are essential. It helps protect both parties' interests by clearly documenting the transaction details, obligations, and any specific conditions attached to the money transfer.

Suggested Sections

1. Sender Details: Full name, address, and identification details of the person sending the money

2. Recipient Details: Full name, address, and identification details of the person receiving the money

3. Transaction Details: Amount, currency, purpose of transfer, and date of transfer

4. Acknowledgment: Confirmation of receipt of funds

5. Terms of Receipt: Any conditions or obligations associated with receiving the money

Optional Sections

1. Payment Schedule: Details of payment installments and timeline if the money is to be received in stages

2. Purpose Declaration: Detailed explanation of intended use of funds, required for large transfers or regulatory compliance

3. Return Conditions: Specific circumstances and conditions under which money might need to be returned

Suggested Schedules

1. Bank Details: Complete banking information required for the transfer

2. Identity Documents: Copies of identification documents of all parties involved

3. Source of Funds Declaration: Documentation and declaration proving legitimate source of funds

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Banking and Finance
Real Estate
Small Business
Private Lending

Relevant Teams

Finance
Legal
Treasury
Compliance
Accounting

Relevant Roles

Chief Financial Officer
Finance Manager
Accountant
Legal Counsel
Treasury Manager

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Let's create your Agreement Letter For Receiving Money

Authors

Alex Denne

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