Car Hire Purchase Agreement Singapore

Copies of both legal acts can be purchased in the SNP Legal Publications. Takes new fees, except with the tenant`s subsequent agreement. Types of agreements and vehicles that the law applies to you can request by email to us at hploanadmin@hlf.com.sg and give your rental contract number. Important note: the deadline for conditional leases and sales has been extended from October 19, 2020 to (i) November 19, 2020 (for agreements with banks or financial companies regulated by MAS) and (ii) to January 31, 2021 (for agreements with other financing companies). Contracting parties are encouraged to use the extension of the time limit to find a mutually acceptable long-term solution to their contractual disputes arising from COVID-19. Tenants who enter into agreements that are not with banks or financial companies regulated by MAS may consider applying the repayment system as part of the relocation framework. For more information, see this press release. The rate remains payable by contract. However, the law prohibits the financing company from repossessing the facility, machinery or locked-in assets used for commercial or commercial vehicles, or from taking legal action during the prescribed period (i) november 19, 2020 (for agreements with banks or financial companies regulated by LAS) and (ii) on January 31, 2021 (for agreements with other financing companies). This gives the tenant and the finance company time to negotiate a mutually acceptable way to manage arrears. No, the law does not apply to private car or taxi rental contracts. 5.

I bought my car through a lease for my private hire job. Is the law valid for me? 35. My company is a car rental company. A customer has been informed of a contract to lease a vehicle that is used as a private tenant/taxi and is not covered by law. What are we going to do next? Consumer interest will be better preserved by improving advertising and transparency requirements, so that tenants know and understand in advance (i.e. at the time of the closing agreements) the method of calculating the credit balance in the event of early termination.