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Full And Final Settlement Agreement for Singapore

Full And Final Settlement Agreement Template for Singapore

A Full and Final Settlement Agreement under Singapore law is a legally binding document that definitively resolves disputes between parties. It typically includes detailed terms of settlement, mutual releases from future claims, confidentiality provisions, and payment arrangements. The agreement is governed by Singapore contract law principles and relevant statutes, providing a comprehensive framework for dispute resolution while ensuring finality and certainty for all parties involved.

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What is a Full And Final Settlement Agreement?

The Full and Final Settlement Agreement is commonly used in Singapore when parties wish to conclusively resolve existing disputes and prevent future claims. This document is particularly relevant in commercial disputes, employment terminations, or contractual disagreements where parties seek a clean break. It encompasses essential elements such as settlement sum, payment terms, mutual releases, and confidentiality obligations, all structured within Singapore's legal framework. The agreement provides certainty and finality, preventing parties from raising further claims related to the settled matters.

What sections should be included in a Full And Final Settlement Agreement?

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 Sum: Amount and payment terms of the settlement

5. Release and Discharge: Mutual release from claims and liabilities

6. Confidentiality: Obligations regarding non-disclosure of settlement terms

What sections are optional to include in a Full And Final Settlement Agreement?

1. Non-Admission of Liability: Statement that settlement does not constitute admission of liability - used when party wishes to explicitly deny liability while settling

2. Tax Provisions: Treatment of tax implications - used when settlement involves significant sums or tax considerations

3. Non-Disparagement: Agreement not to make negative statements about other parties - used in high-profile or sensitive settlements

4. Return of Property: Provisions for returning any relevant property or documents - used when physical items or documents need to be returned

What schedules should be included in a Full And Final Settlement Agreement?

1. Payment Schedule: Detailed breakdown of payment terms and instalments

2. List of Claims: Comprehensive list of claims being settled

3. Related Agreements: Copies of any relevant prior agreements being terminated

4. Release Documentation: Standard form releases to be signed by parties

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Singapore

Publisher

Ƶ

Cost

Free to use
Relevant legal definitions

























Clauses



























Industries

Civil Law Act (Cap. 43): Primary legislation governing contract law principles in Singapore, including formation, validity, and enforcement of contracts

Unfair Contract Terms Act (Cap. 396): Regulates unfair terms in contracts and limits the extent to which civil liability can be excluded or restricted

Employment Act (Cap. 91): Main employment legislation that may affect settlement terms if the agreement involves employment matters

Employment Claims Act 2016: Establishes framework for resolution of employment disputes and salary-related claims

Tripartite Guidelines on Fair Employment Practices: Guidelines that should be considered when settling employment-related disputes

Limitation Act (Cap. 163): Sets statutory time limits for various types of claims that may be subject to settlement

Mediation Act 2017: Governs mediation proceedings and enforceability of mediated settlement agreements

Arbitration Act (Cap. 10): Regulates domestic arbitration and enforcement of arbitral awards in Singapore

International Arbitration Act (Cap. 143A): Governs international arbitration and enforcement of foreign arbitral awards

Evidence Act (Cap. 97): Regulates admissibility of settlement agreements and related evidence in court proceedings

Specific Relief Act (Cap. 321): Provides framework for enforcement of contractual obligations and specific performance

Personal Data Protection Act 2012: Governs collection, use, and disclosure of personal data in settlement agreements

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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