Document background
The Credit Sales Agreement is essential for businesses operating in Singapore that sell goods on credit terms. This document is particularly relevant when immediate full payment isn't required or feasible, allowing buyers to purchase goods while paying in installments. The agreement must comply with Singapore's robust regulatory framework, including the Sale of Goods Act, Consumer Protection (Fair Trading) Act, and Banking regulations. It typically includes detailed terms about the goods, payment schedule, interest rates, security arrangements, and remedies in case of default. The Credit Sales Agreement provides legal protection for both parties while ensuring transparency in credit-based transactions.
