Moneylenders Act (Chapter 188): Primary legislation regulating moneylending activities in Singapore, including licensing requirements, interest rate caps, and mandatory loan documentation requirements
Civil Law Act (Chapter 43): Fundamental legislation governing contractual relationships, establishing requirements for valid contracts and addressing interest rates and loan agreement enforceability
Contracts (Rights of Third Parties) Act: Legislation governing how loan agreements may affect or be enforced by third parties not directly party to the contract
Limitation Act (Chapter 163): Sets statutory time limits for legal action on debt recovery, typically 6 years for contractual claims in Singapore
Personal Data Protection Act 2012: Regulates the collection, use, and disclosure of personal data in loan documentation and related processes
Identification Requirements: Legal requirement for clear identification of all parties involved in the loan agreement
Loan Amount Specification: mandatory clear specification of the principal loan amount in the agreement
Interest Rate Documentation: Legal requirement for explicit documentation of any applicable interest rates and calculation methods
Repayment Terms: mandatory inclusion of specific repayment schedule, terms, and conditions
Default Conditions: Legal requirement to specify consequences and procedures in case of loan default
Signature Requirements: Legal requirement for proper execution of the agreement through signatures of all parties
Witnessing Requirements: Legal provisions regarding the witnessing and attestation of loan agreement signatures
