Settlement Agreement Contract Template for Nigeria

1. Non-Admission of Liability: Statement that settlement does not constitute admission of liability - used when explicitly requested by a party

2. Tax Indemnity: Provisions dealing with tax implications of the settlement - used when settlement involves significant sums or tax implications

3. Non-Disparagement: Mutual agreements not to make negative statements - used in sensitive or public disputes

4. Implementation Steps: Detailed procedure for implementing settlement terms - used for complex settlements requiring specific actions

5. Dispute Resolution: Specific procedures for resolving disputes about the settlement agreement - used for high-value or complex settlements

6. Third Party Rights: Provisions affecting rights of third parties - used when settlement impacts non-parties

7. Insurance and Indemnification: Provisions regarding insurance claims and indemnification - used when insurance is involved in settlement

1. Payment Schedule: Detailed breakdown of payment amounts and dates if installment payments are involved

2. Settlement Sum Calculation: Detailed calculation of settlement amounts including interest and costs

3. Related Claims: List of all claims and proceedings covered by the settlement

4. Required Actions: Detailed list of specific actions required by each party to implement the settlement

5. Form of Release: Template of any required release documents

6. Relevant Documents: List or copies of key documents referenced in the settlement

7. Announcement Template: Agreed form of any public announcements regarding the settlement