We recommend that both parties first discuss, understand each other’s positions, and try to reach a compromise which parties can do, taking into account the framework set out in the Act.
If you would like a preliminary assessment as to whether your case qualifies for relief under the Act, you can use the online self-assessment tool developed in collaboration with the State Courts and Temasek Polytechnic.
Important Note: The Ministry of Law intends to extend the prescribed period under the Act from 19 October 2020 to the following:
||Categories of Contracts
|To 19 November 2020
||– Leases and licences of non-residential property
– Hire-purchase and conditional sales agreements for commercial vehicles, or plant/machinery used for commercial purposes
– Rental agreements for commercial equipment or commercial vehicles
– Loans to SMEs secured by certain collateral in Singapore
|To 31 December 2020
||– Event and tourism-related contracts
– Options to purchase and sale and purchase agreements with developers
|To 31 March 2021
||– Construction contracts or supply contracts, or any performance bond granted thereto