URA allows electronic payment for booking fees, deposits of property purchases

The Controller of Housing (COH) has now allowed the payment of booking fees and deposits to be made to developers through electronic payment modes.

When the developers have received the funds for the property, they have to deposit the funds into the official project account of the development they are marketing.

Once the payment has been received, the developers are required to issue the standard Option to Purchase & the Sale and Purchase Agreement to the purchasers.

While every showflat in Singapore has to be closed during the period from April 7, 2020 – May 4, 2020, developers can still market their developments using digital platforms.


Source: https://www.edgeprop.sg/property-news/ura-allows-electronic-payment-booking-fees-deposits-property-purchases

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