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1. Parties: Identifies and defines all parties to the agreement, including their legal status and addresses
2. Background: Recitals explaining the dispute or claim being settled and any relevant prior agreements or proceedings
3. Definitions: Defines key terms used throughout the agreement for clarity and consistency
4. Settlement Sum: States the total settlement amount and acknowledges it as full and final settlement of the claims
5. Payment Terms: Details the installment payment structure, including amounts, dates, and payment methods
6. Default Provisions: Specifies consequences of missing payments and remedies available to the receiving party
7. Release and Discharge: Mutual releases from claims related to the settled dispute
8. Confidentiality: Obligations to keep the settlement terms and related information confidential
9. Entire Agreement: Confirms the agreement represents the complete understanding between parties
10. Governing Law and Jurisdiction: Specifies Hong Kong law as governing law and jurisdiction for disputes
1. Tax Implications: Include when there are specific tax considerations or allocations between parties
2. Security Provisions: Include when additional security for payments is required (e.g., personal guarantees, charges)
3. Interest Provisions: Include when interest is to be charged on late payments or the outstanding balance
4. Non-disparagement: Include when parties wish to prevent negative statements about each other
5. Costs: Include when legal costs of the settlement need to be addressed
6. Further Assurance: Include when additional documents or actions may be needed post-settlement
7. Severability: Include when parties want to ensure partial invalidity doesn't void entire agreement
1. Payment Schedule: Detailed breakdown of installment amounts and due dates
2. Settlement Calculation: Breakdown of how the settlement sum was calculated
3. Related Proceedings: List of legal proceedings to be discontinued upon settlement
4. Security Documents: Copies or details of any security provided for the payments
5. Form of Release: Template for formal release documentation
6. Bank Details: Payment instructions and bank account details for installments
Business Day
Claims
Completion
Confidential Information
Default Event
Default Interest Rate
Default Notice
Dispute
Effective Date
Encumbrance
Final Payment Date
First Payment Date
Installment Payment
Interest Rate
Original Claim
Outstanding Balance
Parties
Payment Date
Payment Schedule
Related Companies
Related Proceedings
Release Date
Representatives
Security
Settlement Sum
Settled Claims
Settling Party
Receiving Party
Guarantor
Working Day
Hong Kong
HKD
Completion Notice
Payment Evidence
Discharged Obligations
Related Documents
Security Documents
Secured Obligations
Force Majeure Event
Recitals
Settlement Terms
Payment Obligations
Installment Schedule
Default and Remedies
Security
Release and Discharge
Representations and Warranties
Confidentiality
Non-Admission of Liability
Non-Disparagement
Interest
Tax
Costs
Further Assurance
Assignment
Notices
Force Majeure
Severability
Waiver
Amendment
Counterparts
Third Party Rights
Entire Agreement
Governing Law and Jurisdiction
Financial Services
Insurance
Construction
Real Estate
Manufacturing
Retail
Professional Services
Technology
Healthcare
Transportation
Energy
Telecommunications
Legal
Finance
Compliance
Risk Management
Commercial
Credit Control
Debt Recovery
Treasury
Corporate Secretariat
Business Development
Dispute Resolution
Legal Counsel
Chief Legal Officer
Compliance Officer
Chief Financial Officer
Financial Controller
Risk Manager
Claims Manager
Commercial Director
Business Development Manager
Credit Controller
Debt Recovery Manager
Settlement Officer
Mediator
Corporate Secretary
General Manager
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