Since 1997, the Singapore Academy of Law (SAL) has been providing stakeholding services in transactions involving the sale and purchase of newly developed private residential properties, commercial properties and executive condominiums. SAL functions as a stakeholder in place of the Purchasers' Solicitors for the last instalment payments in the sale and purchase and sub-sale of newly developed private residential properties and commercial properties governed by Forms D and E of the Housing Developers Rules ("HDR"), Form D of the Sale of Commercial Properties Rules ("SCPR") and Form B of the Executive Condominium Housing Scheme Regulations ("ECHSR").

In Aug 2006, the SAL was also appointed to provide stakeholding services in the sale and purchase of flats under HDB Design, Build and Sell Scheme governed by Form B of the Housing and Development (Design-Build-and-Sell Scheme-Form of Contract) Rules 2006 (HDB DBSS).

The Singapore Academy of Law (Stakeholding) Rules ("the Stakeholding Rules") deal with the relationship between the Stakeholder and the Purchaser and Vendor.  The Stakeholding Rules provide procedures to ensure that the payment in and out of stakeholding moneys can be effected smoothly when this function is centralised in the hands of the Stakeholder. There are basically two payment functions in this stakeholding service:

A. Payment in of stakeholding money. The Stakeholding Rules provide procedures to ensure that moneys are paid into SAL smoothly at the required times by Purchasers. The stakeholder will then hold the instalment payments until the appropriate times for their payment out to the Vendor.

B. Payment out of stakeholding money. The Stakeholding Rules provide procedures for parties to call for payment out of the stakeholding moneys to the Vendor and deal with any authorised deductions which the Purchaser is entitled to make under the Sale and Purchase Agreements. The Stakeholding Rules also provide procedures for the Stakeholder and the parties to deal with deductions which are disputed by the Vendor.

The SAL stakeholding system will involve a direct deposit service for Purchasers to conveniently pay in their stakeholding moneys through a range of banking outlets near their homes or solicitors’ offices. The three local banks are participating in the direct deposit service.

SAL also issues Stakeholding Instructions and Circulars for reference by the Purchasers and Vendors and their solicitors. Copies of the Stakeholding Instructions and Circulars can be obtained from:

Singapore Academy of Law
Stakeholding Department
1 Supreme Court Lane
Level 4M
Singapore 178879

The Stakeholding Forms are also available in the following formats:

A. On-line format can be downloaded from this website.

B. Soft copy format may be e-mailed to law firms upon request. Please e-mail request to stakeholding@sal.org.sg.

For any enquiries on the Singapore Academy of Law Stakeholding Services, please call the following officers: