The Simple Settlement Agreement and Release is commonly used in Singapore when parties wish to resolve disputes without pursuing litigation or to end existing legal proceedings. This document is essential for documenting the terms of settlement, protecting parties' interests, and providing finality to disputes. It must comply with Singapore contract law requirements and typically includes settlement terms, releases, confidentiality provisions, and governing law clauses. The agreement is particularly useful for resolving commercial, employment, or personal disputes efficiently and cost-effectively.
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1. Parties: Identifies all parties to the agreement with their full legal names and addresses
2. Background: Sets out the context, nature of dispute, and intention to settle
3. Definitions: Defines key terms used tHRoughout the agreement for clarity and consistency
4. Settlement Terms: Details the specific terms of settlement including any payments, actions, or obligations
5. Release: Mutual release of claims between parties, including scope of release and exceptions if any
6. Governing Law: Specifies Singapore law as governing law and jurisdiction for disputes
1. Confidentiality: Provisions for keeping settlement terms and related information confidential
2. Non-disparagement: Clauses preventing parties from making negative statements about each other
3. Tax Provisions: Addresses tax implications and responsibilities for settlement payments
4. Further Assurance: Obligation to execute additional documents or take further steps if needed
5. Severability: Provisions for maintaining validity of remaining clauses if any clause is found invalid
1. Payment Schedule: Detailed breakdown of settlement payment amounts, dates, and payment methods
2. List of Claims: Comprehensive list of all claims, disputes, and matters being settled
3. Form of Announcement: Agreed template for any public statements regarding the settlement
4. Related Agreements: List of any other agreements affected by or relevant to the settlement
Relevant legal definitions
Agreement
Business Day
Claim
Confidential Information
Dispute
Effective Date
Parties
Related Entities
Release
Settlement Amount
Settlement Payment
Settlement Period
Subject Matter
Working Day
Employment Agreement
Termination Date
Employee Benefits
Restrictive Covenants
Business Relationship
Commercial Agreement
Contract Period
Services
Installment Payments
Payment Date
Interest Rate
Default Event
Permitted Disclosures
Confidentiality Period
Authorized Representatives
Non-Disclosure Obligations
Business Day
Claim
Confidential Information
Dispute
Effective Date
Parties
Related Entities
Release
Settlement Amount
Settlement Payment
Settlement Period
Subject Matter
Working Day
Employment Agreement
Termination Date
Employee Benefits
Restrictive Covenants
Business Relationship
Commercial Agreement
Contract Period
Services
Installment Payments
Payment Date
Interest Rate
Default Event
Permitted Disclosures
Confidentiality Period
Authorized Representatives
Non-Disclosure Obligations
Clauses
Interpretation
Definitions
Settlement Terms
Payment Obligations
Release
Confidentiality
Non-Admission of Liability
Warranties and Representations
Entire Agreement
Severability
Further Assurance
Costs
Notices
Governing Law
Jurisdiction
Non-Disparagement
Tax Treatment
Assignment
Third Party Rights
Force Majeure
Publicity
Return of Property
Indemnification
Continuing Obligations
Amendment
Waiver
Counterparts
Reference Provision
Post-Employment Restrictions
Benefits Continuation
Garden Leave
Interest
Default
Installment Terms
Security
Definitions
Settlement Terms
Payment Obligations
Release
Confidentiality
Non-Admission of Liability
Warranties and Representations
Entire Agreement
Severability
Further Assurance
Costs
Notices
Governing Law
Jurisdiction
Non-Disparagement
Tax Treatment
Assignment
Third Party Rights
Force Majeure
Publicity
Return of Property
Indemnification
Continuing Obligations
Amendment
Waiver
Counterparts
Reference Provision
Post-Employment Restrictions
Benefits Continuation
Garden Leave
Interest
Default
Installment Terms
Security
Relevant Industries
Relevant Teams
Relevant Roles
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