Document background
The Global Settlement Agreement is utilized when parties seek to achieve a complete and final resolution of all existing and potential disputes between them. This document is particularly relevant in complex commercial situations involving multiple parties, jurisdictions, or interrelated claims. It is commonly used in Hong Kong's business environment where international commerce intersects with local law, providing a robust framework for dispute resolution. The agreement typically follows negotiations, mediation, or litigation proceedings and aims to prevent future litigation while providing certainty to all parties. It must comply with Hong Kong's contract law principles and relevant ordinances, particularly regarding enforcement and third-party rights. The document includes detailed provisions for payment terms, releases, confidentiality, and future conduct of the parties, making it essential for significant commercial disputes or complex corporate arrangements requiring comprehensive resolution.
