![]() ![]() If, however, the lender, arranger, facility agent or security agent is carrying out a regulated activity under the finance documents, where it may be required to obtain the necessary license or approval from the regulator under one of the statutes referred to in the paragraph above, the failure to do so may result in penalties, and the finance documents may become unenforceable because of illegality.Ī person who wishes to carry on banking business in Singapore is required to possess a valid license granted under the Banking Act. Generally, where a lender, arranger, facility agent or security agent is not carrying on business or performing any regulated activity in Singapore (or if carried on wholly outside Singapore, and in a manner so as to not bring the activity within the regulatory ambit of the relevant Singapore legislation), the mere execution, delivery or performance of, or the enforcement of rights under, the finance documents does not require that entity to be licensed to carry on business in Singapore from a regulatory perspective. 186) is needed, and moneylending, for which a license under the Moneylenders Act (Cap. 19) or the Monetary Authority of Singapore Act (Cap. Two examples are banking business, for which a license under the Banking Act (Cap. ![]() Certain business activities are regulated by statute so that an entity must first be licensed under the relevant statute before it may engage in that business activity. We value and appreciate your services and we would be disappointed to lose you.Whether a lender, arranger, facility agent or security agent must be licensed, qualified or otherwise entitled to carry on business in Singapore depends on the type of business in which it is involved. We hope to continue doing business with your company even after this hiccup. Kindly do the needful by 2 nd February 2020. I hope you understand our situation and consider the refund request so that we can replace the computers. The reference number for the purchase is Topaz/PRS/12/2019. I herewith attach the delivery note and other support documents for the transaction. Your technical team has tried to rectify the problem but this has not worked and we are forced to dispose of the computers. Thereby, we wish to request for 100,000 dollars refund for the twenty computers that failed to function as we expected. We are completely disappointed in the performance of twenty office computers, their systems failed three days after the upgrade. The software was delivered to our office location and installed by your technical team on fifty office computers on 15 th December 2019. I write to you on behalf of Topaz Computers concerning computer software that we purchased from your company in December 2019 to upgrade our systems. It is too late to make a replacement and we wish that you honor our refund request urgently. The reference number for the delivery is RLG/FRB, kindly find other supporting documents for this transaction attached below. Kindly make this refund promptly so that we can also do the same with our customers. ![]() Therefore, we wish to request for 50,000 dollars refund following the return of the fabrics to you. We delivered the fabrics to our customers but they rejected them and returned the product despite our persuasion that we would compensate for the loss. I am sorry to inform you that we are deeply disappointed with the goods you delivered since the quality did not meet our expectations. I hereby write about fabrics that we bought from you and delivered to us on 7 th February 2019. My name is Jonas Hudson, the procurement manager of Redline Group. Kindly honor the refund request at the latest _ so that we can close this transaction.ĭate:_ (Date on which letter is written) You have never disappointed us in the past and we would like to maintain our business relationship. Kindly find the delivery note and other support documents of the delivery reference number _. Therefore we wish to request for a refund of _ dollars for the service as we have already made an order to a different company. Our systems now are slow and dysfunctional despite the trials to rectify the problem by your technical team. We ordered the new models of _ so that we can upgrade our systems but we are unable to achieve this. I am sorry to inform you that we are deeply disappointed in the performance and the quality did not meet our expectation. I hereby write to you regarding _ that we ordered from your company and delivered to address _ on _. ![]()
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