Interim Settlement Agreement Template for Singapore

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Key Requirements PROMPT example:

Interim Settlement Agreement

"Need an Interim Settlement Agreement under Singapore law to resolve an ongoing construction dispute with our contractor, including staged payments over 6 months starting March 2025 and provisions for continued work during the settlement period."

Document background
An Interim Settlement Agreement is utilized when parties seek to establish temporary arrangements while working toward a final resolution. Under Singapore law, this document provides a legally binding framework for interim obligations while preserving parties' rights for final settlement. It typically includes specific provisions for temporary arrangements, partial payments, and interim obligations. The agreement must comply with Singapore's Contract Law and Civil Law Act, ensuring enforceability while maintaining flexibility for future modifications. This type of agreement is particularly useful in complex disputes where immediate partial resolution is beneficial but final terms require further negotiation.
Suggested Sections

1. Parties: Identification and details of all parties to the settlement

2. Background: Context of the dispute and reason for settlement

3. Definitions: Key terms used tHRoughout the agreement

4. Settlement Terms: Core settlement provisions including payment terms, timelines

5. Release Provisions: Mutual releases and waivers of claims

6. Confidentiality: Obligations regarding confidentiality of settlement terms

Optional Sections

1. Non-admission of Liability: Statement clarifying that the settlement does not constitute admission of liability by any party

2. Tax Provisions: Provisions addressing the tax treatment of settlement payments and responsibilities

3. Non-disparagement: Clauses prohibiting parties from making negative statements about each other

Suggested Schedules

1. Payment Schedule: Detailed breakdown of settlement payments and timing

2. Form of Release: Template for formal release documents

3. Pending Claims List: Comprehensive list of claims being settled under the agreement

4. Required Actions: Specific steps parties must take to implement settlement

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Industries

Civil Law Act (Cap. 43): Primary legislation governing contract law principles in Singapore, establishing fundamental rules for contract formation and enforcement

Contracts (Rights of Third Parties) Act: Legislation governing how third parties may enforce terms of a contract that benefits them, even if they're not direct parties to the agreement

Mediation Act 2017: Framework for mediation proceedings in Singapore, particularly relevant for settlement agreements resulting from mediation

International Arbitration Act: Governs international arbitration proceedings and enforcement of arbitral awards in Singapore

Supreme Court of Judicature Act: Establishes the jurisdiction and powers of Singapore courts in handling civil matters including settlement agreements

Limitation Act (Cap. 163): Sets time limits for bringing legal actions and enforcing legal rights, affecting settlement agreement terms and enforcement periods

Evidence Act (Cap. 97): Governs the admissibility of evidence in legal proceedings, including documentation requirements for settlement agreements

Sale of Goods Act: Relevant for settlement agreements involving commercial transactions and sale of goods

Employment Act: Must be considered when settlement agreement involves employment-related disputes or terms

Copyright Act: Applicable when settlement agreement involves intellectual property rights, specifically copyright matters

Patents Act: Relevant for settlement agreements involving patent rights or patent disputes

Trade Marks Act: Applicable when settlement agreement involves trademark rights or related disputes

Land Titles Act: Must be considered when settlement agreement involves real property or land-related matters

Rules of Court 2021: Procedural rules governing civil litigation in Singapore, including enforcement of settlement agreements and court procedures

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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