Document background
A Debt Lawsuit Settlement Letter is essential when parties involved in a debt-related legal dispute in Singapore wish to resolve their differences without proceeding to full litigation. This document formalizes the settlement terms, typically including the agreed payment amount, payment schedule, release of claims, and conditions for discontinuing legal proceedings. It must comply with Singapore's legal requirements, including the Civil Law Act, Limitation Act, and Rules of Court. The letter serves as a legally binding agreement that, when properly executed, can be enforced through Singapore courts if either party defaults on their obligations.
