The Amicable Settlement Agreement is utilized when parties wish to resolve their disputes amicably without pursuing or continuing litigation. This document is particularly relevant in Singapore's business-friendly environment, where alternative dispute resolution is actively encouraged. The agreement typically arises from negotiations or mediation and documents the compromise reached between parties, including settlement terms, releases, and future obligations. It provides a framework for dispute resolution that is both cost-effective and relationship-preserving, while ensuring legal enforceability under Singapore law.
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1. Parties: Identification and details of all parties to the settlement
2. Background: Description of the dispute and circumstances leading to settlement
3. Definitions: Key terms used in the agreement
4. Settlement Terms: Core settlement provisions including payment terms, obligations
5. Release and Discharge: Mutual release of claims related to the dispute
6. Confidentiality: Obligations regarding confidentiality of settlement terms
7. Governing Law: Specification of Singapore law as governing law
1. Non-Admission of Liability: Statement that settlement does not constitute admission of liability - use when party wishes to explicitly preserve position on liability
2. Tax Provisions: Treatment of settlement payments for tax purposes - include when settlement involves significant monetary compensation
3. Costs: Attribution of legal costs and settlement expenses - include when parties wish to address cost allocation
1. Payment Schedule: Detailed breakdown of settlement payments and timing
2. Settlement Sum Calculation: Methodology for calculating settlement amount
3. Related Proceedings: List of legal proceedings to be discontinued
4. Form of Release: Template for formal release documentation
Relevant legal definitions
Agreement
Applicable Law
Business Day
Claim
Confidential Information
Dispute
Effective Date
Encumbrance
Losses
Original Agreement
Parties
Payment Date
Related Companies
Release
Representatives
Settlement Amount
Settlement Payment
Settlement Period
Singapore Dollars
Subject Matter
Third Party
Working Day
Applicable Law
Business Day
Claim
Confidential Information
Dispute
Effective Date
Encumbrance
Losses
Original Agreement
Parties
Payment Date
Related Companies
Release
Representatives
Settlement Amount
Settlement Payment
Settlement Period
Singapore Dollars
Subject Matter
Third Party
Working Day
Clauses
Interpretation
Acknowledgment of Facts
Settlement Terms
Payment Obligations
Release and Discharge
Confidentiality
Non-Admission of Liability
Warranties and Representations
Further Assurance
Entire Agreement
Severability
Costs
Notices
Assignment
Amendment
Waiver
Third Party Rights
Counterparts
Governing Law
Jurisdiction
Dispute Resolution
Tax Treatment
Implementation
Termination of Legal Proceedings
Non-Disparagement
Authority to Execute
Acknowledgment of Facts
Settlement Terms
Payment Obligations
Release and Discharge
Confidentiality
Non-Admission of Liability
Warranties and Representations
Further Assurance
Entire Agreement
Severability
Costs
Notices
Assignment
Amendment
Waiver
Third Party Rights
Counterparts
Governing Law
Jurisdiction
Dispute Resolution
Tax Treatment
Implementation
Termination of Legal Proceedings
Non-Disparagement
Authority to Execute
Relevant Industries
Relevant Teams
Relevant Roles
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