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Construction Settlement Agreement
"I need a Construction Settlement Agreement for resolving a delay claim dispute between our company (Al Tamimi Construction LLC) and the project owner (Qatar Development Corporation) regarding the delayed completion of a commercial tower in Doha, with a settlement value of QAR 15 million to be paid in three installments by March 2025."
1. Parties: Identification of all parties to the settlement agreement, including full legal names, registration details, and addresses
2. Background: Recitals detailing the original contract, nature of disputes, and events leading to settlement
3. Definitions: Definitions of key terms used throughout the agreement
4. Settlement Sum: Details of the agreed settlement amount and any adjustments
5. Payment Terms: Payment schedule, method, and currency of settlement payments
6. Release and Discharge: Mutual release of claims and obligations related to the settled disputes
7. Confidentiality: Obligations regarding confidentiality of the settlement terms and related information
8. Representations and Warranties: Statements of fact and assurances from each party
9. Governing Law and Jurisdiction: Specification of Qatar law as governing law and jurisdiction for disputes
10. Entire Agreement: Confirmation that this agreement represents the entire understanding between parties
11. Execution: Signature blocks and execution requirements
1. Continuing Obligations: Used when certain obligations from the original contract continue after settlement
2. Third Party Rights: Required when settlement affects rights of third parties or subcontractors
3. Tax Provisions: Needed when settlement has significant tax implications or involves international parties
4. Insurance and Bonds: Include when settlement involves insurance claims or performance bonds
5. Intellectual Property Rights: Required when settlement involves IP rights or licensing issues
6. Dispute Resolution Process: Detailed ADR procedures if parties want specific dispute resolution mechanisms for future disputes
7. Language Provisions: Required when agreement is bilingual, specifying which version prevails
8. Force Majeure: Include if settlement involves ongoing obligations affected by force majeure events
9. Step-in Rights: Needed when settlement involves project completion arrangements or handover provisions
1. Schedule 1 - Original Contract Documents: List and copies of relevant original contract documents
2. Schedule 2 - Dispute Details: Detailed description of disputes being settled
3. Schedule 3 - Payment Schedule: Detailed breakdown of payment amounts, dates, and conditions
4. Schedule 4 - Outstanding Works: List of any remaining works to be completed (if applicable)
5. Schedule 5 - Released Claims: Detailed list of claims being released under the settlement
6. Schedule 6 - Required Confirmations: Forms of any required confirmations or certificates
7. Schedule 7 - Bank Guarantee Forms: Templates for any required bank guarantees or securities
8. Appendix A - Settlement Calculations: Detailed calculations supporting settlement sum
9. Appendix B - Project Documents: Relevant project documents and correspondence
10. Appendix C - Authority Documents: Corporate authorizations and power of attorney documents
Authors
Construction
Real Estate Development
Infrastructure
Oil & Gas
Energy
Transportation
Commercial Development
Residential Development
Industrial Development
Government Infrastructure
Healthcare Construction
Education Construction
Hospitality Construction
Legal
Construction
Commercial
Finance
Operations
Project Management
Risk Management
Contract Administration
Claims Management
Technical
Development
Executive Leadership
Project Director
Construction Manager
Legal Counsel
Contract Manager
Project Manager
Claims Manager
Commercial Director
Finance Director
Chief Executive Officer
Operations Director
Risk Manager
Quantity Surveyor
Project Control Manager
Site Manager
Technical Director
Development Manager
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