Contract Dispute Settlement Agreement Template for Saudi Arabia

1. Non-Admission of Liability: Statement that the settlement does not constitute admission of liability by either party

2. Future Business Relationship: Terms governing future business interactions between the parties

3. Dispute Resolution Mechanism: Procedures for resolving any disputes arising from the settlement agreement

4. Third Party Rights: Addressing rights of third parties affected by the settlement

5. Insurance and Indemnification: Details of any insurance claims or indemnification arrangements

6. Regulatory Compliance: Specific provisions required for regulatory compliance in regulated industries

7. Public Announcements: Protocol for making any public statements about the settlement

8. Zakat and Tax Implications: Addressing any Zakat or tax consequences of the settlement

1. Schedule 1 - Original Contract: Copy or summary of the original contract in dispute

2. Schedule 2 - Payment Schedule: Detailed breakdown of payment terms and installments

3. Schedule 3 - Release Documentation: Forms and documents related to the mutual release of claims

4. Schedule 4 - Dispute Summary: Summary of the key points of dispute and resolution

5. Schedule 5 - Required Actions: List of specific actions required by each party to fulfill the settlement

6. Appendix A - Power of Attorney: If applicable, power of attorney documentation for signatories

7. Appendix B - Corporate Approvals: Required corporate authorizations and board resolutions

8. Appendix C - Supporting Documents: Any relevant supporting documentation referenced in the main agreement