The Release Of Liability Settlement Agreement is a crucial legal instrument used in Singapore when parties wish to resolve disputes without proceeding to litigation or to terminate existing legal proceedings. This document is particularly relevant when there are actual or potential claims arising from incidents, accidents, or contractual disputes. The agreement typically includes detailed terms of settlement, specific releases from liability, confidentiality provisions if required, and is drafted in compliance with Singapore's legal framework, including the Civil Law Act and Unfair Contract Terms Act.
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1. Parties: Identification and details of all parties involved in the settlement
2. Background: Context of the dispute and circumstances leading to settlement
3. Definitions: Key terms used throughout the agreement
4. Settlement Terms: Core settlement provisions including payment terms if applicable
5. Release Provisions: Specific terms of release from liability
6. Governing Law: Specification of Singapore law as governing law
7. Execution: Signature blocks and execution requirements
1. Confidentiality: Terms of confidentiality regarding the settlement - used when parties wish to keep settlement terms private
2. Non-Disparagement: Provisions preventing parties from making negative statements - used in high-profile or sensitive settlements
3. Future Cooperation: Terms for ongoing relationship between parties - used when parties need to maintain business relationship
4. Insurance Provisions: Terms relating to insurance coverage - used when insurance is involved in the settlement
1. Schedule of Claims: Detailed list of claims being settled
2. Payment Schedule: Details of installment payments if settlement involves staged payments
3. Related Documents: Copies of relevant agreements or documents referenced in the main agreement
4. Authority Documentation: Evidence of authority to enter into settlement agreement
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