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The Settlement Agreement No Further Claims is utilized when parties wish to definitively resolve their disputes and prevent any future litigation on the same matter. It is particularly relevant in Singapore's business-focused legal environment, where efficient dispute resolution is valued. The document typically includes detailed settlement terms, payment arrangements, comprehensive releases, and often confidentiality provisions. It provides a clean break between parties while ensuring compliance with Singapore's legal framework, including contract law principles and statutory requirements. This type of agreement is especially valuable in commercial disputes where parties seek to maintain business relationships while resolving specific issues.
