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Payment Terms Legislation In Singapore
Singapore
Please see below for a summary of payment terms in Singapore and the various industries across which payment term legislation appears. You can also download a summary of all Singapore payment terms by clicking the button below.
| Industries | Laws | Codes | Notes | Interest Rate |
|---|---|---|---|---|
| Government | ||||
| Comm_terms_law | ||||
| Construction | ||||
| Manufacturing | ||||
| Retail_agriculture | ||||
| Services |
LAWS
The Building And Construction Industry Security Of Payment Act makes ‘pay when paid’ clauses unenforceable and sets maximum terms for progress payments for construction contracts of 35 days from invoice with a default of 14 days. For a supply contract the maximum term is 60 days with a default of 30 days when no term is specified in the contract.
- Construction
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