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Legal Templates
Acknowledgement Receipt For Down Payment

Acknowledgement Receipt For Down Payment for Singapore

Acknowledgement Receipt For Down Payment Template for Singapore

A legally binding document used in Singapore that formally acknowledges the receipt of a down payment from one party to another. It serves as official proof of partial payment and typically includes details such as the amount received, payment method, date of transaction, purpose of payment, and the identities of both parties. The document is governed by Singapore contract law and provides protection for both the payer and payee in commercial transactions.

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What is a Acknowledgement Receipt For Down Payment?

The Acknowledgement Receipt For Down Payment is a crucial document in Singapore business transactions where partial payments are involved. It provides legal protection by documenting the initial payment made towards a larger purchase or agreement. This document is particularly important in Singapore's highly regulated business environment, where proper documentation of financial transactions is essential for legal compliance and dispute resolution. The receipt typically details the amount paid, remaining balance, payment terms, and serves as evidence of the transaction's legitimacy under Singapore law.

What sections should be included in a Acknowledgement Receipt For Down Payment?

1. Receipt Details: Date, reference number, and location of transaction

2. Payer Information: Full name, contact details, and identification of person making payment

3. Payee Information: Full name, contact details, and identification of person receiving payment

4. Payment Details: Amount paid, payment method, currency, and purpose of payment

5. Signature Block: Space for signatures of both parties and date

What sections are optional to include in a Acknowledgement Receipt For Down Payment?

1. Payment Terms: Additional details about payment schedule, use when part of larger transaction

2. Refund Policy: Terms for refund if applicable, use when refunds are possible

3. Property Details: Description of property if payment is property-related

What schedules should be included in a Acknowledgement Receipt For Down Payment?

1. Payment Proof: Copy of check, bank transfer receipt, or other payment evidence

2. Identification Documents: Copies of relevant ID documents of parties involved

3. Property Documents: If property-related, relevant property documentation

Authors

Alex Denne

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

Jurisdiction

Singapore

Publisher

Genie AI

Document Type

Acknowledgement Form

Sector

Corporate Governance

Cost

Free to use
Relevant legal definitions















Clauses















Industries

Contract Act 1872: Primary legislation governing contract formation, validity, and enforcement in Singapore

Misrepresentation Act (Cap. 390): Legislation dealing with false statements or misrepresentations made during contract formation

Sale of Goods Act (Cap. 393): Regulates transactions involving the sale and purchase of goods, including down payment terms

Residential Property Act (Cap. 274): Governs residential property transactions and related payments in Singapore

Housing Developers (Control and Licensing) Act (Cap. 130): Regulates housing developers and protects buyers' interests in property transactions

Consumer Protection (Fair Trading) Act (Cap. 52A): Protects consumer interests and ensures fair trading practices in transactions

Unfair Contract Terms Act (Cap. 396): Restricts the use of unfair terms in contracts and protects against unreasonable contract conditions

Currency Act (Cap. 69): Regulates the use of currency and legal tender in Singapore transactions

Electronic Transactions Act (Cap. 88): Governs electronic transactions and digital signatures in contracts

Goods and Services Tax Act (Cap. 117A): Determines GST implications on transactions and payments

Stamp Duties Act (Cap. 312): Governs stamp duties payable on certain types of documents and transactions

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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