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Binding Settlement Agreement
"I need a Binding Settlement Agreement to resolve an ongoing dispute with our software supplier regarding failed deliverables, with a settlement sum of SGD 250,000 to be paid in tHRee installments starting March 2025, including strict confidentiality provisions."
1. Parties: Identification and details of all parties to the settlement
2. Background: Context of the dispute and events leading to settlement
3. Definitions: Key terms used tHRoughout the agreement
4. Settlement Terms: Core settlement provisions including payment terms and obligations
5. Release and Discharge: Mutual release of claims and liabilities
6. Governing Law: Specification of Singapore law as governing law
7. Execution: Signature blocks and execution formalities
1. Confidentiality: Terms of confidentiality when parties wish to keep settlement terms private
2. Non-Admission: Statement that settlement does not constitute admission of liability, typically requested by settling party
3. Tax Provisions: Treatment of tax implications when settlement involves significant monetary compensation
4. Non-Disparagement: Mutual agreements not to make negative statements, typically used in high-profile or sensitive disputes
1. Payment Schedule: Details of payment amounts and timing if settlement involves installments
2. Release Documentation: Forms of release or withdrawal of legal proceedings
3. Settlement Statement: Agreed public statement if applicable
4. Related Agreements: Any ancillary agreements referenced in main settlement
Authors
Business Day
Claim
Commencement Date
Confidential Information
Dispute
Effective Date
Encumbrance
Governmental Authority
Law
Losses
Original Proceedings
Parties
Payment
Related Entities
Release
Representatives
Settlement Amount
Settlement Sum
Settlement Terms
Singapore Dollars
Subject Matter
Tax
Third Party
Working Day
Settlement Payments
Payment Terms
Release and Discharge
Confidentiality
Non-Admission of Liability
Non-Disparagement
Representations and Warranties
Tax Treatment
Further Assurance
Costs
Entire Agreement
Amendment
Assignment
Severability
Third Party Rights
Notices
Force Majeure
Governing Law
Jurisdiction
Dispute Resolution
Waiver
Counterparts
Indemnification
Termination
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