A Final Settlement Agreement is utilized when parties wish to conclusively resolve their disputes without (or before) court proceedings. This document, governed by Singapore law, serves as a comprehensive record of the settlement terms, including financial arrangements, mutual releases, and ongoing obligations. It typically follows negotiations or mediation and provides certainty and finality to all parties involved. The agreement should be carefully drafted to ensure all claims are properly addressed and future disputes are prevented.
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1. Parties: Identification and details of all parties to the settlement
2. Background: Context of the dispute and events leading to settlement
3. Definitions: Key terms used tHRoughout the agreement
4. Settlement Terms: Core settlement provisions including payment terms and obligations
5. Release and Discharge: Mutual release of claims and obligations
6. Confidentiality: Obligations regarding confidentiality of settlement terms
7. Governing Law: Specification of Singapore law as governing law
1. Non-Admission: Statement that settlement does not constitute admission of liability
2. Tax Provisions: Treatment of tax implications and responsibilities
3. Non-Disparagement: Mutual agreements not to make negative statements about other parties
4. Return of Property: Provisions for return of documents or property between parties
1. Payment Schedule: Details of settlement payment structure and timing
2. Release Documentation: Forms of release or withdrawal of legal proceedings
3. Asset List: List of any assets or items to be transferred
4. Deed of Release: Formal deed releasing claims between parties
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