Document background
The Credit Loan Agreement serves as the primary documentation for lending transactions in Singapore, establishing the legal framework for credit provision. It is commonly used by banks, financial institutions, and licensed moneylenders when extending credit to individuals or businesses. The agreement must comply with Singapore's robust regulatory framework, including the Moneylenders Act and MAS guidelines, which set strict requirements for interest rates, disclosure, and fair lending practices. The document typically includes comprehensive terms covering loan amount, interest calculations, repayment schedules, security arrangements, and enforcement mechanisms.
