An Affidavit of Settlement is a crucial legal document within Hong Kong's legal framework, typically used when parties have reached an agreement to resolve their disputes and need to formalize the terms in a sworn statement. This document type is governed by Hong Kong's Oaths and Declarations Ordinance and must be properly executed before an authorized official such as a commissioner for oaths or notary public. It includes detailed information about the parties involved, the nature of the dispute, the agreed settlement terms, any monetary compensation, and mutual releases. The affidavit serves multiple purposes: it creates a formal record of the settlement, provides evidence of the agreement terms, and can be used for enforcement if necessary. It's particularly important in cases where there needs to be a clear, sworn record of the settlement terms that can be relied upon in future legal proceedings.
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1. Title and Venue: Identifies the document as an Affidavit of Settlement and specifies the relevant court or jurisdiction
2. Deponent Information: Full name, address, and occupation of the person making the affidavit
3. Matter Identification: Reference to any related legal proceedings or dispute
4. Background of Dispute: Brief description of the circumstances leading to the settlement
5. Settlement Terms: Detailed explanation of the agreed settlement terms
6. Payment Details: Specific information about any monetary settlement
7. Mutual Release: Statement of mutual release of claims between parties
8. Declaration of Truth: Formal declaration that the contents are true and accurate
9. Execution Block: Space for signature, date, and notarization/attestation
1. Multiple Party Details: Additional section when settlement involves more than two parties
2. Installment Payment Schedule: When settlement involves payments in installments
3. Confidentiality Provisions: When parties agree to keep settlement terms confidential
4. Non-Disparagement Clause: When parties agree not to make negative statements about each other
5. Continuing Obligations: When certain obligations continue after settlement
6. Tax Implications: When settlement has significant tax consequences that need to be acknowledged
1. Schedule A - Payment Details: Detailed breakdown of payment amounts and dates
2. Schedule B - Released Claims: Comprehensive list of claims being released
3. Schedule C - Supporting Documents: List of relevant documents referenced in the affidavit
4. Appendix 1 - Related Court Documents: Copies of relevant court filings or orders
5. Appendix 2 - Evidence of Authority: Documents proving authority to enter into settlement (if applicable)
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