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Deposit Receipt for Singapore

Deposit Receipt Template for Singapore

A Deposit Receipt Template under Singapore law is a formal document acknowledging the receipt of funds paid as a deposit. It serves as legal proof of payment and outlines the terms under which the deposit was made, including the amount, purpose, and conditions for refund or forfeiture. The document complies with Singapore's Civil Law Act and relevant banking regulations, providing protection for both the depositor and recipient while ensuring transparency in financial transactions.

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What is a Deposit Receipt?

The Deposit Receipt Template is essential for businesses and individuals in Singapore requiring formal documentation of deposit payments. This document, governed by Singapore law, provides clear evidence of financial transactions and helps prevent disputes by clearly stating the deposit amount, purpose, and terms. It's particularly important in sectors where advance payments are common, such as real estate and retail. The template ensures compliance with local regulations while protecting both parties' interests through detailed documentation of the transaction.

What sections should be included in a Deposit Receipt?

1. Receipt Details: Date, time, and unique reference number of the deposit transaction

2. Party Information: Full identification of both depositor and recipient, including names, addresses, and contact details

3. Payment Information: Detailed description of the deposit including amount, currency, payment method, and transaction references

4. Purpose Statement: Clear statement specifying the purpose for which the deposit is made

5. Acknowledgment: Formal acknowledgment of receipt including authorized signature and company stamp if applicable

What sections are optional to include in a Deposit Receipt?

1. Terms of Refund: Details of refund conditions, process, and timeline when deposit is refundable

2. GST Statement: GST registration details and breakdown of GST charges if applicable

3. Special Conditions: Any specific terms, conditions, or restrictions attached to the deposit

4. Regulatory Compliance: Statements regarding compliance with relevant banking and anti-money laundering regulations

What schedules should be included in a Deposit Receipt?

1. Payment Evidence: Attached proof of payment such as transaction record or bank slip

2. Identity Documents: Copies of identification documents for transaction verification

3. Standard Terms: Standard terms and conditions applicable to the deposit

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

Deposit Form

Sector

Banking

Cost

Free to use
Relevant legal definitions






















Clauses

















Industries

Civil Law Act (Cap. 43): Primary legislation governing contract law in Singapore, providing the fundamental framework for contract formation, validity, and enforcement

Contract Law (Amendment) Act: Updates and modifications to Singapore's contract law framework, incorporating modern commercial practices

Residential Property Act: Regulates residential property transactions and related deposits in Singapore, particularly relevant if the deposit is property-related

Housing and Development Board (HDB) Rules: Specific regulations governing transactions involving HDB properties, including deposit handling for public housing

Consumer Protection (Fair Trading) Act: Protects consumer interests in transactions, ensuring fair practices in deposit-taking and refund policies

Consumer Protection (Trade Descriptions and Safety Requirements) Act: Ensures accurate descriptions and safety standards in consumer transactions, including deposit documentation

Banking Act: Regulates banking institutions and financial transactions, including handling of deposits and payment processing

MAS Guidelines: Monetary Authority of Singapore's regulatory guidelines for financial transactions and deposit handling

Anti-Money Laundering Regulations: Requirements for verification and documentation of financial transactions to prevent money laundering

Stamp Duties Act: Governs stamp duty obligations for certain types of transactions and related documentation

Electronic Transactions Act: Provides legal framework for electronic transactions and digital documentation of deposits

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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