Document background
The Credit Service Agreement serves as the primary contractual framework for credit facilities in Singapore, used when a licensed credit provider extends credit to individuals or businesses. The agreement must comply with Singapore's robust financial regulatory regime, including MAS guidelines and the Banking Act. It typically covers credit limits, interest rates, repayment terms, security requirements, and default provisions. The document is essential for establishing clear rights and obligations between parties while ensuring compliance with Singapore's strict consumer protection and banking regulations. This Credit Service Agreement is particularly crucial in Singapore's highly regulated financial sector, where transparency and regulatory compliance are paramount.
