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Amicable Settlement Agreement
"Need an Amicable Settlement Agreement under Singapore law to resolve a commercial dispute with our supplier over defective manufacturing equipment, including a payment schedule for SGD 500,000 to be paid in installments starting March 2025."
1. Parties: Identification and details of all parties to the settlement
2. Background: Description of the dispute and circumstances leading to settlement
3. Definitions: Key terms used in the agreement
4. Settlement Terms: Core settlement provisions including payment terms, obligations
5. Release and Discharge: Mutual release of claims related to the dispute
6. Confidentiality: Obligations regarding confidentiality of settlement terms
7. Governing Law: Specification of Singapore law as governing law
1. Non-Admission of Liability: Statement that settlement does not constitute admission of liability - use when party wishes to explicitly preserve position on liability
2. Tax Provisions: Treatment of settlement payments for tax purposes - include when settlement involves significant monetary compensation
3. Costs: Attribution of legal costs and settlement expenses - include when parties wish to address cost allocation
1. Payment Schedule: Detailed breakdown of settlement payments and timing
2. Settlement Sum Calculation: Methodology for calculating settlement amount
3. Related Proceedings: List of legal proceedings to be discontinued
4. Form of Release: Template for formal release documentation
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