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1. Parties: Identifies and defines all parties to the agreement, including their legal status and contact details
2. Background: Describes the dispute or incident giving rise to the liability, relevant dates, and any prior attempts at resolution
3. Definitions: Defines key terms used throughout the agreement to ensure clarity and prevent misinterpretation
4. Settlement Terms: Details the agreed settlement amount or other remedies, payment terms, and method of payment
5. Release and Discharge: Specifies the scope of claims being released and confirms the discharge of liability upon settlement
6. Confidentiality: Sets out obligations regarding the confidentiality of the settlement terms and related information
7. Non-Admission of Liability: States that the settlement does not constitute an admission of liability by either party
8. Entire Agreement: Confirms that this document represents the complete agreement between the parties
9. Governing Law and Jurisdiction: Specifies that Nigerian law governs the agreement and establishes jurisdiction for disputes
10. Execution: Formal closing section for signatures, including witness requirements under Nigerian law
1. Tax Implications: Include when settlement payments have significant tax consequences that need to be addressed
2. Insurance: Include when insurance companies are involved in the settlement or when insurance coverage needs to be addressed
3. Non-Disparagement: Include when parties wish to prevent negative statements about each other after settlement
4. Future Claims: Include when there's a need to address potential future claims related to the same incident
5. Implementation Timeline: Include when settlement involves multiple steps or payments over time
6. Publicity: Include when public statements about the settlement need to be regulated
7. Return of Property: Include when settlement involves return of documents, property, or other materials
1. Schedule 1 - Settlement Payment Details: Detailed breakdown of settlement amounts, payment schedule, and banking information
2. Schedule 2 - Released Claims: Comprehensive list of specific claims being released as part of the settlement
3. Schedule 3 - Related Proceedings: List of any legal proceedings to be discontinued as part of the settlement
4. Appendix A - Supporting Documents: Copies of relevant documents referenced in the agreement
5. Appendix B - Form of Release: Template for any additional release documents required under the settlement
6. Appendix C - Implementation Schedule: Detailed timeline for implementing various aspects of the settlement
Claim
Claimant
Confidential Information
Dispute
Effective Date
Event
Incident
Liability
Loss
Material Breach
Parties
Payment Date
Released Claims
Released Parties
Releasing Parties
Settlement Amount
Settlement Payment
Settlement Terms
Subject Matter
Settling Party
Related Entities
Representatives
Dispute Resolution
Business Day
Force Majeure
Governing Law
Implementation Date
Legal Proceedings
Notice
Payment Method
Relevant Documents
Territory
Third Party Rights
Working Hours
Recitals
Definitions
Settlement Terms
Payment Terms
Release and Discharge
Warranties and Representations
Confidentiality
Non-Admission of Liability
Tax Implications
Indemnification
Further Assurance
Severability
Assignment
Force Majeure
Notices
Entire Agreement
Amendment
Waiver
Third Party Rights
Costs
Dispute Resolution
Governing Law and Jurisdiction
Counterparts
Execution
Manufacturing
Construction
Healthcare
Transportation
Energy and Oil & Gas
Financial Services
Real Estate
Retail
Professional Services
Insurance
Mining
Agriculture
Education
Telecommunications
Legal
Risk Management
Compliance
Insurance
Finance
Corporate Affairs
Operations
Human Resources
Executive Leadership
Administrative Support
Legal Counsel
Risk Manager
Compliance Officer
Claims Manager
Corporate Secretary
Chief Legal Officer
Settlement Officer
Litigation Manager
Insurance Claims Adjuster
Chief Executive Officer
Chief Financial Officer
Operations Manager
Human Resources Director
Business Unit Manager
Corporate Affairs Manager
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