Affidavit Of Surety

Affidavit Of Surety Template for Singapore

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Key Requirements PROMPT example:

"I need an Affidavit of Surety for my brother's education loan from DBS Bank Singapore, where I'll be guaranteeing a sum of SGD 50,000 for his university studies starting January 2025, and I want to include my property assets as additional security."

Document background

The Affidavit of Surety is a crucial legal document in Singapore's financial and legal framework, commonly used when one party needs to guarantee the obligations of another. It must be properly executed in accordance with Singapore law and typically includes the surety's personal details, relationship to the principal debtor, financial capacity, and explicit acknowledgment of obligations. This document is particularly important in various contexts such as loan applications, immigration bonds, educational guarantees, and legal proceedings. The affidavit requires formal witnessing by a Commissioner for Oaths and must comply with specific formatting and content requirements under Singapore's legal system.

Suggested Sections

1. Title and Declaration: Formal opening stating it's an affidavit, deponent details, and declaration of truth

2. Personal Information: Deponent's full name, NRIC/passport number, address, occupation

3. Relationship Declaration: Relationship to the principal debtor and nature of surety arrangement

4. Financial Capacity Statement: Declaration of financial ability to meet surety obligations

5. Obligations Understanding: Clear statement of understanding the surety obligations and liabilities

6. Verification Statement: Confirmation of truth and accuracy of statements made

Optional Sections

1. Asset Declaration: Detailed list of assets and their values, used when specific asset backing is required

2. Income Statement: Declaration of income sources and amounts, used when income verification is required

3. Additional Sureties: Information about co-sureties if applicable

Suggested Schedules

1. Schedule A - Asset List: Detailed listing of relevant assets with valuations

2. Schedule B - Income Documentation: Supporting documents for income declaration

3. Appendix 1 - Supporting Documents: Copies of relevant identification documents, property titles, or other supporting evidence

Authors

Alex Denne

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Banking and Finance
Real Estate
Legal Services
Education
Immigration

Relevant Teams

Legal
Finance
Compliance
Risk Management
Operations

Relevant Roles

Legal Counsel
Loan Officer
Immigration Officer
Compliance Officer
Risk Manager

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Let's create your Affidavit Of Surety

Authors

Alex Denne

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