Singapore collection profile

singapore-bnr

 

Collecting in Singapore

  • The payment behavior of domestic companies and the DSO is good. However, the law provides no guidelines as to how late payments should be handled and contracts remain the only reference when business relationships turn sour.

  • Overall, legal action remains expensive even though the court system is fairly efficient.

  • The insolvency framework is in line with international standards however in practice, as in most countries, collecting debt from insolvent debtors would prove to be a genuine challenge.

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    Singapore-flag

    Singapore

    Collection complexity

    high-2


    Collection relating to

    Payments
    $-3
    Court
    proceedings
    Gav-3
    Insolvency
    proceedings
    Arrow-2
     

    Singapore

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