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A Promissory Note Seller Financing is commonly used in Singapore when traditional financing options are not preferred or available. This document enables sellers to finance the purchase of their assets directly, creating a legally binding obligation for the buyer to repay the seller over time. The note typically includes the principal amount, interest rate, payment schedule, and any security arrangements. Under Singapore law, this instrument must comply with the Bills of Exchange Act and related regulations, ensuring enforceability and protection for both parties. It's particularly useful in business sales, property transactions, and asset transfers where the seller is willing to accept payments over time.
