The Liability Settlement Agreement is utilized when parties wish to resolve disputes involving liability claims without proceeding to litigation in Singapore courts. This document is crucial for documenting the final settlement terms, payment arrangements, and mutual releases between parties. It should comply with Singapore's legal requirements and typically includes provisions for confidentiality, non-admission of liability, and specific settlement terms. The agreement serves as a complete resolution of the dispute and prevents future claims relating to the same incident.
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1. Parties: Identification and details of all parties involved in the settlement
2. Background: Description of the incident/dispute leading to the settlement
3. Definitions: Key terms used tHRoughout the agreement
4. Settlement Terms: Specific terms of the settlement including payment amounts and timelines
5. Release Provisions: Terms of release from liability
6. Confidentiality: Terms regarding confidentiality of the settlement
7. Governing Law: Specification of Singapore law as governing law
8. Execution: Signature blocks and execution details
1. Non-Admission of Liability: Statement that settlement does not constitute admission of liability - use when defeNDAnt wants to maintain no fault
2. Non-Disparagement: Provisions preventing parties from making negative statements about each other - use in sensitive or public cases
3. Tax Implications: Treatment of settlement payments for tax purposes - use when settlement involves significant monetary compensation
4. Insurance Provisions: Details of insurance coverage and claims - use when insurance companies are involved
1. Schedule of Payments: Detailed payment structure and timeline
2. Incident Report: Detailed description of the incident leading to liability
3. Release Documentation: Formal release forms and related documents
4. Evidence Documentation: Supporting evidence and documentation referenced in settlement
Relevant legal definitions
Agreement
Claim
Commencement Date
Confidential Information
Dispute
Effective Date
Incident
Liability
Loss
Parties
Payment
Release
Settlement Amount
Settlement Date
Settlement Payment
Subject Matter
Term
Third Party Claims
Released Claims
Released Parties
Settling Parties
Indemnified Parties
Governing Law
Business Day
Force Majeure Event
Notice
Representatives
Claim
Commencement Date
Confidential Information
Dispute
Effective Date
Incident
Liability
Loss
Parties
Payment
Release
Settlement Amount
Settlement Date
Settlement Payment
Subject Matter
Term
Third Party Claims
Released Claims
Released Parties
Settling Parties
Indemnified Parties
Governing Law
Business Day
Force Majeure Event
Notice
Representatives
Clauses
Recitals
Consideration
Settlement Terms
Payment Terms
Release of Claims
Indemnification
Confidentiality
Non-Admission of Liability
Non-Disparagement
Warranties and Representations
Further Assurance
Assignment
Entire Agreement
Severability
Amendment
Waiver
Force Majeure
Notices
Costs and Expenses
Dispute Resolution
Governing Law
Jurisdiction
Counterparts
Third Party Rights
Tax Treatment
Insurance
Compliance with Laws
Authority to Execute
Binding Effect
Consideration
Settlement Terms
Payment Terms
Release of Claims
Indemnification
Confidentiality
Non-Admission of Liability
Non-Disparagement
Warranties and Representations
Further Assurance
Assignment
Entire Agreement
Severability
Amendment
Waiver
Force Majeure
Notices
Costs and Expenses
Dispute Resolution
Governing Law
Jurisdiction
Counterparts
Third Party Rights
Tax Treatment
Insurance
Compliance with Laws
Authority to Execute
Binding Effect
Relevant Industries
Relevant Teams
Relevant Roles
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