Document background
Consumer Credit Contracts are fundamental instruments in Singapore's financial services sector, used when extending credit to individual consumers for personal, domestic, or household purposes. These contracts must strictly comply with Singapore's regulatory framework, including the Moneylenders Act and MAS guidelines. A Consumer Credit Contract typically includes detailed terms about credit limits, interest calculations, repayment schedules, borrower rights, and mandatory disclosures. It serves to protect both lender and borrower interests while ensuring transparency and fairness in consumer lending transactions.
