Document background
The Credit Facilities Agreement is a fundamental document in Singapore's banking and finance sector, used when a lender extends credit to a borrower. It encompasses various types of credit facilities including term loans, revolving credits, and overdrafts. The agreement must comply with Singapore's Banking Act, MAS regulations, and other relevant financial legislation. It typically includes detailed provisions on facility limits, interest calculations, security requirements, events of default, and remedies available to the lender. This document is particularly important in Singapore's position as a major financial hub, where it facilitates both domestic and international lending transactions.
