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.
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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 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
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
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
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