Traduction en attente — affichage du contenu source en anglais

Loan Agreement vs Promissory Note — Singapore

A loan agreement is typically a fuller bilateral contract covering both parties' obligations, while a promissory note is a simpler, one-sided promise to repay. Should clearly state the interest rate, repayment schedule, and default consequences, and comply with local usury limits. By contrast: Should specify whether the note is secured or unsecured and include clear default and acceleration terms. Typical legal fees for drafting or reviewing either document in this jurisdiction run SGD $400–$800/hr — as with any fee estimate, confirm current rates with a local practitioner.