A Mutual Release Of Claims Agreement is commonly used in Singapore when parties wish to resolve existing disputes or potential claims without pursuing litigation. This document is particularly valuable following settlements, business separations, or employment terminations. It provides comprehensive protection by having all parties release claims against each other, typically including known and unknown claims up to the date of signing. The agreement must comply with Singapore contract law requirements and includes essential elements such as consideration, clear release terms, and proper execution formalities.
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1. Parties: Identification of all parties entering into the release agreement
2. Background: Context of the dispute or claims being released
3. Definitions: Key terms used throughout the agreement
4. Release Provisions: Specific claims being released by each party
5. Consideration: Statement of consideration being exchanged
6. Governing Law: Specification of Singapore law as governing law
1. Non-Disparagement: Mutual agreement not to make negative statements about other party - used when protecting reputation is important
2. Confidentiality: Obligations to keep terms of settlement confidential - used when parties want to maintain privacy of settlement
3. Future Cooperation: Provisions for ongoing relationship if any - used when parties will continue to interact
4. Tax Implications: Treatment of tax consequences - used when settlement involves significant monetary consideration
1. Schedule of Released Claims: Detailed list of specific claims being released
2. Schedule of Excluded Claims: List of claims specifically excluded from the release
3. Payment Schedule: Details of payment terms and timeline if settlement involves monetary compensation
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