A Cancellation Agreement is used when parties mutually agree to terminate their existing contractual relationship before its natural conclusion. This document is particularly relevant in Singapore's business environment, where clear documentation of contract termination is essential for legal certainty. The agreement typically includes details of the original contract, reasons for termination, settlement terms, and mutual releases. It ensures compliance with Singapore contract law principles and provides protection for all parties by clearly defining the end of their obligations and any continuing responsibilities.
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1. Parties: Identification of all parties to the cancellation agreement
2. Background: Details of original agreement and reasons for cancellation
3. Definitions: Key terms used in the agreement
4. Cancellation Terms: Specific terms of the cancellation and effective date
5. Mutual Release: Release of obligations and claims between parties
6. Governing Law: Specification of Singapore law as governing law
1. Outstanding Payments: Section detailing remaining financial obligations and settlement terms
2. Return of Property: Provisions for returning any physical or intellectual property
3. Confidentiality: Ongoing confidentiality obligations that survive termination
4. Non-Compete/Non-Solicit: Survival of restrictive covenants from original agreement
1. Original Agreement: Copy of the agreement being cancelled
2. Settlement Schedule: Details of any financial settlements or payment plans
3. Property Schedule: List of items to be returned or transferred
4. Release Documentation: Any additional release forms or certificates required
Relevant legal definitions
Agreement
Original Agreement
Effective Date
Termination Date
Parties
Outstanding Obligations
Settlement Amount
Confidential Information
Released Claims
Released Parties
Surviving Provisions
Business Day
Dispute
Mutual Release
Representatives
Return Date
SGD
Settlement Period
Third Party Rights
Working Day
Original Agreement
Effective Date
Termination Date
Parties
Outstanding Obligations
Settlement Amount
Confidential Information
Released Claims
Released Parties
Surviving Provisions
Business Day
Dispute
Mutual Release
Representatives
Return Date
SGD
Settlement Period
Third Party Rights
Working Day
Clauses
Termination
Mutual Release
Settlement
Outstanding Obligations
Return of Property
Confidentiality
Non-Disparagement
Survival Provisions
Representations and Warranties
Further Assurance
Costs
Entire Agreement
Severability
Amendment
Waiver
Notices
Third Party Rights
Governing Law
Dispute Resolution
Counterparts
Mutual Release
Settlement
Outstanding Obligations
Return of Property
Confidentiality
Non-Disparagement
Survival Provisions
Representations and Warranties
Further Assurance
Costs
Entire Agreement
Severability
Amendment
Waiver
Notices
Third Party Rights
Governing Law
Dispute Resolution
Counterparts
Relevant Industries
Relevant Teams
Relevant Roles
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