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1. Parties: Identification of the parties to the agreement, including the insurer, insured, and any other relevant parties
2. Background: Context of the insurance claim, including policy details, incident description, and claim history
3. Definitions: Definitions of key terms used throughout the agreement
4. Settlement Amount: Details of the settlement amount, payment terms, and method of payment
5. Release and Discharge: Mutual release of claims and discharge of further liability
6. Confidentiality: Provisions regarding the confidentiality of the settlement terms and related information
7. Tax Implications: Statement regarding tax responsibilities and implications of the settlement
8. Entire Agreement: Confirmation that this agreement represents the complete understanding between parties
9. Governing Law: Specification that South African law governs the agreement
10. Signatures: Execution clause and signature blocks for all parties
1. Third Party Claims: Include when there are potential claims by or against third parties related to the incident
2. Ongoing Obligations: Include when parties have continuing duties post-settlement
3. Non-Admission of Liability: Include when the insurer wishes to explicitly state that settlement does not constitute admission of liability
4. Warranties and Representations: Include when specific assurances from either party are required
5. Medicare/Medical Aid Provisions: Include when settlement involves medical expenses or future medical care
6. Return of Documents: Include when specific documents need to be returned or destroyed
7. Non-Disparagement: Include when parties wish to prevent negative statements about each other
8. Dispute Resolution: Include when specific dispute resolution mechanisms for future disputes are required
1. Schedule A - Policy Details: Details of the insurance policy including policy number, coverage, and relevant terms
2. Schedule B - Claim Documentation: List of all relevant claim documents and correspondence
3. Schedule C - Settlement Calculation: Detailed breakdown of how the settlement amount was calculated
4. Schedule D - Payment Schedule: If payment is in installments, detailed payment dates and amounts
5. Appendix 1 - Incident Report: Detailed description of the incident giving rise to the claim
6. Appendix 2 - Supporting Documents: List of all supporting documents relied upon in reaching settlement
7. Appendix 3 - Release Forms: Any additional release forms required by specific jurisdictions or circumstances
Claim
Claimant
Commencement Date
Confidential Information
Effective Date
Event
Incident
Insured
Insurer
Loss
Material Breach
Parties
Policy
Policy Period
Premium
Release
Settlement Amount
Settlement Date
Settlement Payment
Settlement Terms
Subject Matter
Third Party
Underlying Claim
Writing
Insurance Contract
Policy Schedule
Business Day
Claim Documentation
Dispute
Excluded Claims
Force Majeure Event
Governing Law
Indemnity
Legal Costs
Notice
Payment Date
Related Entities
Representatives
Settled Claims
Definitions
Interpretation
Background
Settlement Payment
Release and Discharge
Confidentiality
Non-Admission of Liability
Tax Implications
Warranties and Representations
Indemnification
Further Assurance
Assignment
Severability
Entire Agreement
Amendment
Waiver
Force Majeure
Notices
Costs
Dispute Resolution
Governing Law
Jurisdiction
Counterparts
Payment Terms
Release of Claims
Third Party Rights
Compliance with Laws
Non-Disparagement
Document Return
Execution
Insurance
Financial Services
Legal Services
Healthcare
Property Management
Construction
Manufacturing
Retail
Transportation
Professional Services
Real Estate
Mining
Agriculture
Legal
Claims
Risk Management
Compliance
Operations
Underwriting
Policy Administration
Dispute Resolution
Customer Relations
Document Management
Insurance Claims Manager
Legal Counsel
Risk Manager
Compliance Officer
Claims Adjuster
Insurance Broker
Settlement Officer
Claims Director
Insurance Underwriter
Policy Administrator
Legal Risk Officer
Insurance Operations Manager
Claims Settlement Specialist
Insurance Contract Manager
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