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Vendor Finance Contract
"Need a Vendor Finance Contract under Singapore law for financing medical equipment worth SGD 2.5 million to a hospital group, with quarterly repayments over 5 years starting March 2025 and requiring comprehensive insurance coverage."
1. Parties: Identification of the vendor/financer and the customer/borrower, including full legal names and registration details
2. Background: Context of the financing arrangement, purpose, and relationship between parties
3. Definitions: Key terms used throughout the agreement, including financial terms, security-related definitions
4. Facility Terms: Amount, purpose, availability period, and drawdown conditions of the financing
5. Interest and Fees: Interest rate, calculation method, payment schedule, and applicable fees
6. Security Arrangements: Details of collateral, security documents, and registration requirements
7. Representations and Warranties: Standard declarations by both parties regarding their capacity and authority
8. Covenants: Ongoing obligations of the borrower during the term of the facility
9. Events of Default: Circumstances constituting default and consequences thereof
10. Governing Law and Jurisdiction: Singapore law provisions and jurisdiction specifications
1. Insurance Requirements: Required when specific insurance coverage is needed for financed assets
2. Cross-Border Provisions: International transaction elements and compliance requirements
3. Tax Provisions: Specific tax treatment and obligations
4. Assignment and Transfer: Rights to assign or transfer the agreement
1. Facility Details Schedule: Detailed terms of the facility including amounts, rates, and payment schedule
2. Asset Schedule: Description of financed assets or equipment
3. Security Documents: Forms of security documents and registrations
4. Conditions Precedent: List of required documents and conditions before drawdown
5. Form of Drawdown Notice: Template for requesting disbursement of funds
6. Payment Schedule: Detailed repayment schedule including principal and interest
7. Insurance Requirements: Specific insurance requirements and minimum coverage
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