The Contract Termination Agreement is essential when parties wish to formally end their contractual obligations before the natural expiry of the contract or when seeking to document the terms of termination. Under Singapore law, this agreement provides certainty and clarity regarding the rights and obligations of all parties post-termination, including settlement terms, mutual releases, and any surviving obligations. It helps prevent future disputes by clearly documenting the agreed terms of separation and ensures compliance with Singapore's legal requirements for contract termination.
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1. Parties: Identification and details of the contracting parties
2. Background: Context of the original agreement and reasons for termination
3. Definitions: Key terms used throughout the agreement
4. Termination Date: Specific date when the original agreement terminates
5. Settlement Terms: Financial and operational arrangements for termination
6. Mutual Release: Release of claims and liabilities between parties
7. Governing Law: Specification of Singapore law as governing law
1. Confidentiality: Ongoing obligations regarding confidential information - used when original agreement contained confidentiality provisions
2. Non-Compete: Continuation of non-compete obligations - used when original agreement contained non-compete provisions
3. Return of Property: Process for returning company property or documents - used when physical or intellectual property needs to be returned
4. Public Announcements: Rules for making public statements about the termination - used for high-profile or public-facing agreements
1. Schedule of Outstanding Payments: Details of any payments to be made between parties
2. Schedule of Assets: List of assets to be returned or transferred
3. Original Agreement: Copy of the agreement being terminated
Relevant legal definitions
Agreement
Original Agreement
Effective Date
Termination Date
Parties
Confidential Information
Outstanding Obligations
Settlement Amount
Released Claims
Surviving Provisions
Business Day
Intellectual Property Rights
Company Property
Representatives
Affiliate
Force Majeure Event
Governing Law
Jurisdiction
Notice
Settlement Payment
Third Party
Working Day
Original Agreement
Effective Date
Termination Date
Parties
Confidential Information
Outstanding Obligations
Settlement Amount
Released Claims
Surviving Provisions
Business Day
Intellectual Property Rights
Company Property
Representatives
Affiliate
Force Majeure Event
Governing Law
Jurisdiction
Notice
Settlement Payment
Third Party
Working Day
Clauses
Termination
Mutual Release
Settlement Terms
Payment Obligations
Confidentiality
Non-Disparagement
Return of Property
Intellectual Property
Non-Compete
Non-Solicitation
Survival of Obligations
Representations and Warranties
Public Announcements
Further Assurance
Notices
Entire Agreement
Amendment
Severability
Assignment
Third Party Rights
Costs
Governing Law
Dispute Resolution
Counterparts
Mutual Release
Settlement Terms
Payment Obligations
Confidentiality
Non-Disparagement
Return of Property
Intellectual Property
Non-Compete
Non-Solicitation
Survival of Obligations
Representations and Warranties
Public Announcements
Further Assurance
Notices
Entire Agreement
Amendment
Severability
Assignment
Third Party Rights
Costs
Governing Law
Dispute Resolution
Counterparts
Relevant Industries
Relevant Teams
Relevant Roles
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