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Settlement Agreement And Release Template for Singapore

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Key Requirements PROMPT example:

Settlement Agreement And Release

"I need a Settlement Agreement and Release to resolve an ongoing commercial dispute with our former supplier, including a staged payment plan over 6 months starting March 2025 and mutual confidentiality obligations under Singapore law."

Document background
A Settlement Agreement and Release is utilized when parties wish to resolve existing disputes without proceeding to or continuing with litigation. This document, governed by Singapore law, provides a comprehensive framework for dispute resolution, including settlement terms, mutual releases, and future obligations. It typically arises from commercial disputes, employment matters, or contractual disagreements. The agreement must comply with Singapore's Contract Law and Civil Law Act, ensuring enforceability while protecting parties' interests. It serves as a full and final settlement of all claims between the parties, providing certainty and closure.
Suggested Sections

1. Parties: Full identification of all parties involved in the settlement

2. Background: Brief description of the dispute and circumstances leading to settlement

3. Definitions: Key terms used tHRoughout the agreement

4. Settlement Sum: Details of the settlement amount and payment terms

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

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

7. Governing Law: Specification of Singapore law as governing law

Optional Sections

1. Non-Admission of Liability: Statement that settlement does not constitute admission of liability

2. Non-Disparagement: Mutual agreement not to make negative statements about other parties

3. Tax Implications: Treatment of tax obligations related to settlement

4. Future Cooperation: Terms for ongoing relationship or cooperation

Suggested Schedules

1. Payment Schedule: Detailed breakdown of payment installments if applicable

2. List of Released Claims: Specific enumeration of claims being settled

3. Form of Release: Standard form for executing the release

4. Related Agreements: Copies of any referenced agreements or documents

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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

Contract Law Reform Act 2023: Recent reforms to Singapore's contract law framework, modernizing various aspects of contract formation and enforcement

Mediation Act 2017: Governs mediation proceedings in Singapore and provides framework for mediated settlements

Civil Law (Third-Party Rights) Act: Regulates the rights of third parties in contractual agreements and their ability to enforce contractual terms

Employment Act 1968: Relevant for settlement agreements involving employment disputes or termination matters

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

Limitation Act 1959: Sets time limits for bringing legal claims and affects settlement timing considerations

Income Tax Act: Determines tax treatment of settlement payments and related financial considerations

Stamp Duties Act: Regulates stamp duty obligations for settlement agreements and related documents

Supreme Court of Judicature Act: Relevant for court jurisdiction and enforcement of settlement agreements

Industrial Relations Act: Applicable for settlements involving industrial disputes or union matters

Workplace Safety and Health Act: Relevant for settlements involving workplace safety incidents or related claims

Goods and Services Tax Act: Determines GST implications of settlement payments and related transactions

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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