Global Settlement Agreement for Singapore

Global Settlement Agreement Template for Singapore

A Global Settlement Agreement under Singapore law is a comprehensive legal document that resolves all existing disputes between parties and prevents future claims arising from the same circumstances. It combines elements of Singapore contract law with international best practices, providing a final and binding resolution to complex disputes. The agreement typically includes detailed terms of settlement, mutual releases, confidentiality provisions, and enforcement mechanisms, all structured within Singapore's legal framework.

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What is a Global Settlement Agreement?

The Global Settlement Agreement is utilized when parties seek to resolve multiple disputes or complex matters tHRough a single, comprehensive agreement. This document is particularly relevant in Singapore's business environment, where international commercial disputes are common. It incorporates all settlement terms, releases, and obligations, providing finality to disputes while ensuring compliance with Singapore's legal requirements. The agreement is designed to be thorough and conclusive, addressing both current issues and potential future claims.

What sections should be included in a Global Settlement Agreement?

1. Parties: Identification and details of all parties to the settlement

2. Background: Context of the dispute and reasons for settlement

3. Definitions: Key terms used tHRoughout the agreement

4. Settlement Terms: Core settlement provisions including payment terms and obligations

5. Release and Discharge: Mutual releases and waivers of claims

6. Confidentiality: Obligations regarding confidentiality of settlement terms

7. Governing Law: Specification of Singapore law as governing law

8. Execution: Signature blocks and execution provisions

What sections are optional to include in a Global Settlement Agreement?

1. Non-Admission: Statement that settlement does not constitute admission of liability

2. Tax Provisions: Treatment of settlement payments for tax purposes

3. Non-Disparagement: Provisions preventing parties from making negative statements

4. Dispute Resolution: Mechanism for resolving future disputes

What schedules should be included in a Global Settlement Agreement?

1. Payment Schedule: Detailed breakdown of settlement payments and timing

2. Release Documents: Forms of release to be executed by parties

3. Related Proceedings: List of legal proceedings to be discontinued

4. Settlement Statement: Agreed public statement regarding settlement (if applicable)

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Singapore

Publisher

Genie AI

Cost

Free to use
Industries

Contracts Act 1872 (Chapter 53): Primary legislation governing contract formation, validity, consideration requirements, and contract termination in Singapore

Civil Law Act (Chapter 43): Governs enforceability of contracts and places limitations on certain types of agreements under Singapore law

Limitation Act (Chapter 163): Sets out time limits for bringing claims and statutory limitation periods that affect settlement agreements

Evidence Act (Chapter 97): Establishes requirements for documentary evidence and its admissibility in Singapore courts

Singapore Mediation Act 2017: Relevant for mediated settlements, governing the enforceability and procedure of mediated settlement agreements

Competition Act (Chapter 50B): May be relevant if settlement involves competition or antitrust matters in Singapore

Personal Data Protection Act 2012: Governs the collection, use, and disclosure of personal data in settlement agreements

Companies Act (Chapter 50): Relevant when settlement involves corporate entities and their obligations under Singapore law

Reciprocal Enforcement of Foreign Judgments Act: Governs the enforcement of foreign judgments in Singapore, crucial for international settlements

Reciprocal Enforcement of Commonwealth Judgments Act: Specific to enforcement of judgments from Commonwealth jurisdictions in Singapore

UNCITRAL Model Law: International framework relevant when settlement involves international arbitration provisions

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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