Document background
The Loan Agreement Without Interest is commonly used in Singapore for arrangements where parties wish to document a loan without charging interest, often in family or friendly business contexts. It provides legal protection for both lender and borrower while complying with Singapore's legal framework. The document details the principal amount, repayment terms, conditions, and remedies for default, ensuring clarity and enforceability. It's particularly relevant for situations where charging interest might be inappropriate, such as family loans, charitable lending, or certain religious considerations. The agreement ensures compliance with Singapore's Contracts Act, Moneylenders Act, and other relevant legislation.
