Legal Templates
Tripartite Settlement Agreement

Tripartite Settlement Agreement for Singapore

Tripartite Settlement Agreement Template for Singapore

A Tripartite Settlement Agreement under Singapore law is a legally binding document involving tHRee parties who agree to resolve their disputes or claims tHRough mutual agreement. The document, governed by Singapore's robust legal framework, typically includes detailed settlement terms, mutual releases, and specific obligations of each party. It provides a formal mechanism for dispute resolution while maintaining confidentiality and ensuring enforceability under Singapore's legal system.

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What is a Tripartite Settlement Agreement?

A Tripartite Settlement Agreement is utilized when tHRee parties seek to formally resolve disputes or claims tHRough mutual agreement. This document is particularly relevant in Singapore's commercial environment, where multi-party disputes are common in various sectors. The agreement typically includes comprehensive settlement terms, payment arrangements, mutual releases, and specific obligations of each party. It's designed to provide a clear framework for dispute resolution while ensuring compliance with Singapore's legal requirements. The document is especially useful in complex commercial situations where traditional two-party settlements are insufficient to address all aspects of the dispute.

What sections should be included in a Tripartite Settlement Agreement?

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

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, obligations, and releases

5. Confidentiality: Provisions regarding confidentiality of settlement terms

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

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

1. Non-admission of Liability: Statement that settlement does not constitute admission of liability by any party

2. Tax Implications: Treatment of tax consequences of settlement payments and obligations

3. Non-disparagement: Mutual agreements not to disparage other parties post-settlement

What schedules should be included in a Tripartite Settlement Agreement?

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

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

3. Original Dispute Documents: Reference documents relating to the original dispute

4. Deed of Release: Formal deed releasing claims between parties

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

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Jurisdiction

Singapore

Publisher

Genie AI

Document Type

Settlement Agreement

Sector

Employment

Cost

Free to use
Industries

Civil Law Act (Cap. 43): Primary legislation governing contract law in Singapore, establishing fundamental principles of contract formation, enforcement, and remedies

Contracts (Rights of Third Parties) Act: Legislation governing how third parties may enforce terms of a contract, particularly relevant for tripartite agreements

Mediation Act 2017: Framework for mediation proceedings in Singapore, including provisions for mediated settlement agreements

Settlement Agreements (Enforcement) Bill: Legislation concerning the enforcement of settlement agreements, particularly relevant for international parties

Singapore Convention on Mediation: International framework for cross-border settlement agreements resulting from mediation

Limitation Act: Statute governing time limits for bringing legal claims and their settlement

Evidence Act: Legislation governing the admissibility of evidence, relevant for establishing terms and conditions of settlement

Personal Data Protection Act: Legislation governing the collection, use, and disclosure of personal data in Singapore

Companies Act: Primary legislation governing corporate entities in Singapore, relevant when parties are corporations

Electronic Transactions Act: Framework for electronic transactions and digital signatures, important for electronic execution of agreements

MAS Guidelines: Regulatory guidelines issued by the Monetary Authority of Singapore, applicable when financial institutions are involved

Law Society Guidelines: Professional guidelines issued by the Singapore Law Society regarding settlement agreements and professional conduct

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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