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The Release Of Claim And Subrogation Receipt is a crucial document in Singapore's legal and insurance framework, typically used when an insurance company or other party makes payment for a loss and requires both confirmation of the settlement and the right to pursue recovery from third parties. This document combines the release of claims against the paying party with the transfer of subrogation rights, allowing the paying party to step into the shoes of the original claimant. It's particularly important in insurance claims, accident settlements, and property damage cases where multiple parties might be involved. The document must comply with Singapore's legal requirements, including those set out in the Insurance Act and Civil Law Act.
