The Settlement Agreement No Further Claims is utilized when parties wish to definitively resolve their disputes and prevent any future litigation on the same matter. It is particularly relevant in Singapore's business-focused legal environment, where efficient dispute resolution is valued. The document typically includes detailed settlement terms, payment arrangements, comprehensive releases, and often confidentiality provisions. It provides a clean break between parties while ensuring compliance with Singapore's legal framework, including contract law principles and statutory requirements. This type of agreement is especially valuable in commercial disputes where parties seek to maintain business relationships while resolving specific issues.
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1. Parties: Identification of all parties to the settlement
2. Background: Context of the dispute and reasons for settlement
3. Definitions: Key terms used tHRoughout the agreement
4. Settlement Sum: Amount and payment terms of the settlement
5. Release of Claims: Waiver of existing and future claims
6. No Admission of Liability: Statement that settlement does not constitute admission
7. Confidentiality: Terms regarding non-disclosure of settlement terms
8. Governing Law: Specification of Singapore law as governing law
1. Non-Disparagement: Mutual agreements not to make negative statements about any party
2. Return of Property: Provisions for returning documents, materials or other assets
3. Tax Implications: Treatment of tax liability for settlement payment and related obligations
4. Continuing Obligations: Specification of any ongoing duties that survive settlement
1. Schedule of Claims: Comprehensive list of all claims being settled under the agreement
2. Payment Schedule: Detailed breakdown of installment payments if applicable
3. Related Agreements: Copies or references to relevant prior agreements being settled
4. Property Schedule: Itemized list of any property or materials to be returned or transferred
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