The Settlement Waiver And Release Agreement is utilized when parties wish to definitively resolve disputes and prevent future litigation in Singapore. This document is crucial in various scenarios, from employment settlements to commercial dispute resolutions, providing a formal framework for parties to waive their rights to pursue claims in exchange for agreed consideration. Under Singapore law, these agreements must be carefully drafted to ensure enforceability, particularly regarding the scope of claims being released and the clarity of settlement terms. The document typically includes specific provisions for monetary compensation, release of claims, confidentiality obligations, and non-admission of liability clauses.
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1. Parties: Identification of all parties to the agreement, including their full legal names, registration numbers (if companies), and addresses
2. Background: Context of the dispute, facts leading to the settlement, and reasons for entering into the agreement
3. Definitions: Definitions of key terms used tHRoughout the agreement, including defined terms for parties, dispute, claims, and settlement
4. Settlement Sum: Details of any payment or consideration, including amount, payment method, and timing
5. Release and Waiver: Comprehensive description of claims being released and rights being waived by all parties
6. Non-Admission of Liability: Statement that the settlement and payment do not constitute admission of liability by any party
7. Governing Law: Specification of Singapore law as governing law and submission to Singapore courts' jurisdiction
1. Confidentiality: Terms requiring parties to keep the settlement terms, negotiations, and related documents confidential
2. Non-Disparagement: Provisions preventing parties from making negative statements about each other
3. Return of Property: Terms governing the return of any relevant property, documents, or confidential information
4. Tax Implications: Clauses addressing responsibility for taxes arising from the settlement payment
5. Further Assurance: Obligation to execute additional documents or take further steps necessary to give effect to the agreement
1. Schedule 1 - Payment Schedule: Detailed breakdown of installment payments including dates, amounts, and payment methods
2. Schedule 2 - List of Claims: Comprehensive list of all claims, causes of action, and proceedings being settled and released
3. Schedule 3 - Related Proceedings: List of all legal proceedings to be discontinued or terminated as part of the settlement
4. Schedule 4 - Form of Announcement: Agreed template for any public statements or announcements regarding the settlement
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