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Partnership Loan Agreement Template for Singapore

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Key Requirements PROMPT example:

Partnership Loan Agreement

"Need a Partnership Loan Agreement for our 5-partner accounting firm to borrow SGD 500,000 from United Bank, with quarterly repayments over 3 years starting March 2025, secured against partnership assets and personal guarantees from two senior partners."

Document background
The Partnership Loan Agreement is essential when a partnership requires external financing while operating under Singapore jurisdiction. This document is commonly used when partnerships seek to expand operations, acquire assets, or require working capital. It provides comprehensive protection for both lender and borrower by clearly defining loan terms, security arrangements, and default provisions. The agreement must comply with Singapore's stringent financial regulations, including the Partnership Act and Moneylenders Act, while addressing specific requirements for partnership borrowing structures.
Suggested Sections

1. Parties: Identification and details of the lender and borrower partnership

2. Background: Context of the loan and relationship between parties

3. Definitions: Key terms used throughout the agreement

4. Loan Amount and Purpose: Specified amount and intended use of the loan

5. Interest Rate and Calculations: Interest rate, calculation method, and payment schedule

6. Repayment Terms: Schedule and method of repayment

7. Security: Any collateral or guarantees provided

8. Events of Default: Circumstances constituting default and consequences

9. Governing Law and Jurisdiction: Specification of Singapore law as governing law and jurisdiction for disputes

Optional Sections

1. Representations and Warranties: Optional section for statements of fact by parties, typically included for larger loans or complex partnerships

2. Covenants: Optional section for ongoing obligations of the borrower, used when specific behavior or conditions need to be maintained

3. Assignment Provisions: Optional section covering rights to transfer the loan, included when transfer rights are important to either party

4. Anti-Money Laundering Provisions: Optional section for compliance with AML regulations, particularly important for larger loans or regulated entities

Suggested Schedules

1. Schedule 1 - Repayment Schedule: Detailed breakdown of repayment dates and amounts

2. Schedule 2 - Partnership Details: Details of the borrowing partnership structure including partners and ownership

3. Schedule 3 - Security Documents: Details of any collateral or security arrangements

4. Schedule 4 - Form of Notices: Template formats for formal communications between parties

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions





























Clauses




























Industries

Partnership Act (Chapter 391): Primary legislation governing the formation, operation, and dissolution of partnerships in Singapore

Contracts Act (Chapter 53): Fundamental law governing contract formation, validity, and enforcement in Singapore

Moneylenders Act (Chapter 188): Regulates moneylending activities and provides protection against usurious interest rates

Companies Act (Chapter 50): Relevant when any party to the agreement is a registered company

Civil Law Act (Chapter 43): Contains provisions affecting civil law matters including contractual relationships

Banking Act (Chapter 19): Regulates banking operations and financial services in Singapore

Securities and Futures Act (Chapter 289): Governs securities, futures, and financial markets activities

MAS Guidelines: Regulatory guidelines issued by the Monetary Authority of Singapore for financial transactions

AML/CFT Requirements: Anti-Money Laundering and Countering the Financing of Terrorism compliance requirements

Stamp Duties Act: Governs stamp duty requirements for legal documents and agreements

Personal Data Protection Act 2012: Regulates the collection, use, and disclosure of personal data

Limitation Act (Chapter 163): Sets time limits for bringing legal actions and enforcing rights

Rules of Court: Procedural rules governing civil litigation and enforcement in Singapore courts

Insolvency, Restructuring and Dissolution Act 2018: Governs insolvency proceedings and debt restructuring

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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