Amended Settlement Agreement for Malaysia

Amended Settlement Agreement Template for Malaysia

This document is an Amended Settlement Agreement governed by Malaysian law, designed to modify the terms of an existing settlement agreement between parties. It incorporates specific requirements under Malaysian contract law, including compliance with the Contracts Act 1950 and Civil Law Act 1956. The agreement details the amendments to the original settlement terms while preserving unchanged provisions, and includes necessary formalities for enforcement in Malaysian courts, such as proper stamping under the Stamp Act 1949. It provides a comprehensive framework for documenting changes to settlement terms while ensuring continued legal validity and enforceability within the Malaysian legal system.

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What is a Amended Settlement Agreement?

An Amended Settlement Agreement is utilized when parties to an existing settlement agreement in Malaysia need to modify their original terms while maintaining the fundamental settlement structure. This document type is particularly relevant when circumstances have changed since the original settlement, requiring adjustments to payment terms, timelines, or other settlement conditions. The agreement must comply with Malaysian legal requirements, including proper execution, stamping, and registration where necessary. As an Amended Settlement Agreement, it carefully delineates which original terms remain in force and which are being modified, providing clarity and certainty for all parties. It's commonly used in both litigation and dispute resolution contexts, often involving corporate entities, government bodies, or individuals seeking to revise their settlement arrangements while ensuring continued enforceability under Malaysian law.

What sections should be included in a Amended Settlement Agreement?

1. Parties: Identification of all parties to the amended settlement agreement, including their full legal names, registration numbers (if companies), and addresses

2. Background: Recitals explaining the original settlement agreement, reasons for amendment, and confirming parties' intention to modify specific terms

3. Definitions: Definitions of key terms, including both original definitions that remain relevant and new definitions specific to the amendments

4. Interpretation: Rules for interpreting the amended agreement, including relationship with original agreement

5. Amendment Effective Date: Specification of when the amendments take effect

6. Amendments to Original Agreement: Detailed listing of specific clauses being amended, showing both original and new text

7. Confirmation of Unamended Terms: Explicit confirmation that all other terms of the original agreement remain in full force and effect

8. Representations and Warranties: Updated representations and warranties regarding capacity and authority to enter into the amended agreement

9. Governing Law and Jurisdiction: Confirmation of Malaysian law as governing law and jurisdiction for disputes

10. Execution: Signature blocks for all parties and witnesses as required under Malaysian law

What sections are optional to include in a Amended Settlement Agreement?

1. Additional Settlement Terms: New terms being added to the settlement (used when amendments include completely new provisions rather than just modifications)

2. Release and Waiver Updates: Modified release provisions (included if the scope of mutual releases needs to be updated)

3. Payment Terms Amendments: Modified payment provisions (included if financial terms are being amended)

4. Confidentiality Updates: Modified confidentiality provisions (included if confidentiality terms need updating)

5. Dispute Resolution Amendments: Modified dispute resolution procedures (included if changing how future disputes will be handled)

6. Tax Provisions: Specific tax-related provisions (included if amendments have tax implications)

7. Force Majeure Updates: Modified force majeure provisions (included if force majeure terms need updating, particularly relevant post-COVID)

What schedules should be included in a Amended Settlement Agreement?

1. Schedule 1 - Original Agreement: Copy of the original settlement agreement being amended

2. Schedule 2 - Amendments Table: Detailed table showing all amendments in a clear before/after format

3. Schedule 3 - Payment Schedule: Updated payment terms and schedules if financial terms are amended

4. Schedule 4 - Completion Requirements: Updated list of actions or requirements for settlement completion

5. Schedule 5 - Form of Release: Updated release documentation if release terms are amended

6. Appendix A - Supporting Documents: Any additional documents referenced in the amendments

7. Appendix B - Corporate Authorizations: Updated corporate authorizations or board resolutions approving the amendments

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Malaysia

Publisher

Genie AI

Cost

Free to use
Relevant Industries

Financial Services

Manufacturing

Construction

Real Estate

Technology

Healthcare

Energy

Telecommunications

Retail

Professional Services

Transportation

Mining

Agriculture

Education

Hospitality

Relevant Teams

Legal

Compliance

Finance

Corporate Secretarial

Risk Management

Executive Management

Corporate Affairs

Treasury

Operations

Business Development

Relevant Roles

Legal Counsel

Chief Legal Officer

Compliance Officer

Risk Manager

Chief Financial Officer

Contract Manager

Company Secretary

Managing Director

Chief Executive Officer

Settlement Officer

Dispute Resolution Manager

Corporate Affairs Director

Finance Director

Treasury Manager

Business Development Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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