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Closing Date Extension Addendum

Closing Date Extension Addendum Template for Singapore

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Key Requirements PROMPT example:

Closing Date Extension Addendum

"I need a Closing Date Extension Addendum for a commercial property purchase in Singapore, extending the closing date from March 15, 2025, to June 15, 2025, with an extension fee of SGD 50,000 due to delays in obtaining regulatory approvals."

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What is a Closing Date Extension Addendum?

The Closing Date Extension Addendum is used when parties to an existing agreement in Singapore need to formally extend their transaction's completion date. This commonly occurs due to financing delays, regulatory approvals, or other circumstances preventing completion by the original date. The document must comply with Singapore contract law requirements and typically includes the new closing date, any additional consideration, and confirmation that other original terms remain unchanged. It's particularly important in Singapore's highly regulated business environment to properly document such modifications to protect all parties' interests.

What sections should be included in a Closing Date Extension Addendum?

1. Parties: Identification of all parties to the original agreement and addendum

2. Background: Reference to original agreement and reason for extension

3. Definitions: Key terms used in the addendum

4. Extension Details: Specific details of the new closing date

5. Effect on Original Agreement: Statement that all other terms remain unchanged

6. Execution: Signature blocks and execution formalities

What sections are optional to include in a Closing Date Extension Addendum?

1. Additional Consideration: Details of any additional payment required for the extension

2. Conditions Precedent: Any conditions that must be met before extension takes effect

3. Further Assurances: Commitment to execute additional documents if needed for complex transactions

What schedules should be included in a Closing Date Extension Addendum?

1. Original Agreement: Copy of the agreement being modified

2. Extension Payment Schedule: Schedule detailing any additional consideration payments and their timing

3. Corporate Authorizations: Evidence of authority to execute for corporate parties

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 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















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Industries

Contract Act 1872: Primary legislation governing contract formation, modification and enforcement in Singapore (Chapter 53). Covers principles of valid contract variations and amendments.

Conveyancing and Law of Property Act: Chapter 61 of Singapore laws governing property transactions and transfers, relevant if the closing date extension relates to real estate.

Sale of Commercial Properties Act: Legislation governing the sale and purchase of commercial properties in Singapore, including timeline modifications and extensions.

Housing and Development Act: Relevant for HDB properties, governing public housing transactions and any modifications to sale agreements.

Residential Property Act: Controls and restrictions on residential property transactions, including timeline modifications for completion.

Registration of Deeds Act: Chapter 269 governing the registration requirements for property-related documents and amendments.

Land Titles Act: Chapter 157 covering land registration system and requirements for documenting changes to property transactions.

Stamp Duties Act: Chapter 312 governing stamp duty implications of contract modifications, including ABSD and SSD considerations.

Sale of Goods Act: Legislation governing sale of goods contracts if the closing date extension relates to goods rather than property.

Companies Act: Relevant when contracting parties are corporations, governing corporate authority to modify agreements.

Limitation Act: Chapter 163 establishing time limitations for contract modifications and enforcement periods.

Electronic Transactions Act: Legislation governing the validity and requirements for electronic execution of documents and contracts.

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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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