Document background
The Installment Purchase Agreement is essential for transactions where goods are sold with payment spread over time. Used extensively in Singapore across various sectors, it provides a structured framework for both commercial and consumer purchases. The agreement must comply with Singapore's Hire Purchase Act and related regulations, particularly regarding consumer protection. It typically includes detailed payment schedules, ownership provisions, default remedies, and may require specific disclosures under Singapore law. This document is particularly relevant when businesses want to offer financing options to customers or when purchasers prefer to spread payments over time while taking immediate possession of goods.
