Singapore legislation

Section 13

of Hire-Purchase Act 1969

Section 13

Early completion of agreement

(1)

The hirer under a regulated agreement may, if he has given notice in writing to the owner of his intention to do so, on or before the day specified for that purpose in the notice, complete the purchase of the goods by paying or tendering to the owner the net balance due under the agreement.

(2)

The rights conferred on the hirer by this section may be exercised by him —

(a)

at any time during the continuance of the agreement; or

(b)

where the owner has taken possession of the goods, upon payment to the owner (within 7 business days after the owner has served a notice in the form set out in the Fifth Schedule) in addition to the net balance due together with the reasonable costs including costs (if any) of storage, repair or maintenance of the goods incurred by the owner incidental to his taking possession of the goods.

Read in full context — Hire-Purchase Act 1969 →