Settlement Agreement Payment Template for Nigeria

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

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

3. Future Cooperation: Requirements for future cooperation between parties - used when ongoing relationship exists

4. Insurance and Indemnity: Additional protection clauses - used when settlement involves insurance claims

5. Third Party Rights: Rights of third parties affected by the settlement - used when settlement impacts other parties

6. Regulatory Compliance: Special regulatory requirements - used in regulated industries

7. Severability: Provision for partial invalidity - used in complex settlements

8. Assignment: Rights to assign the agreement - used when assignment rights are important

1. Payment Schedule: Detailed breakdown of payment installments and dates

2. Bank Details: Banking information for settlement payments

3. Original Dispute Documents: References to relevant dispute documentation

4. Tax Calculations: Detailed tax implications and calculations

5. Release Documentation: Forms and documents evidencing release of claims

6. Corporate Authorizations: Required corporate approvals and resolutions

7. Settlement Calculations: Detailed calculations of settlement amount

8. Related Agreements: List of other agreements affected by the settlement