A Solvency Confirmation Letter is typically required in Singapore for various business transactions, including tender submissions, loan applications, or major contract negotiations. The document must comply with Singapore's Companies Act and IRDA 2018, providing explicit confirmation of both cash flow and balance sheet solvency. The letter should include current financial status, forward-looking statements about debt servicing capability, and must be signed by authorized personnel. Notably, making false declarations can result in serious legal consequences under Singapore law.
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1. Letter Header: Company letterhead, date, reference number, and addressee details
2. Declaration of Authority: Statement of authority to make the declaration (e.g., director, authorized officer)
3. Company Details: Full legal name, registration number, and registered address
4. Solvency Statement: Clear declaration of company's solvency status including both cash flow and balance sheet tests
5. Financial Position: Brief overview of current financial position and ability to pay debts
6. Signature Block: Authorized signatory details and signature
1. Additional Financial Details: Detailed financial metrics when required by recipient - used when specifically requested or for regulated entities
2. Third Party Confirmation: Confirmation from auditors or accountants - used when external verification is required
3. Group Structure Reference: Information about parent/subsidiary relationships - used for companies within a group structure
1. Financial Statements: Recent balance sheet and profit/loss statements
2. Board Resolution: Copy of board resolution authorizing the solvency declaration
3. Auditor's Report: Independent auditor's report confirming financial position
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