In search of a fair bargain – balancing the rights of banks and their customers in Singapore: article in Financier Worldwide
02 Nov 2015
Director Benedict Teo wrote an article for Financier Worldwide Magazine (November 2015 issue), titled “In search of a fair bargain – balancing the rights of banks and their customers in Singapore”.
The article explores the Singapore Courts’ approach towards enforcing “non-reliance clauses” in standard banking contracts. Such clauses are often relied upon by banks in response to claims of breach of duty or misrepresentation by their customers.
The article suggests that the Singapore Courts are still searching for the balance between upholding the sanctity of commercial bargains freely entered into and the need to protect vulnerable customers.
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Reproduced with permission from Financier Worldwide Magazine. For more information please visit http://www.financierworldwide.com/.