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Settlement Offer Letter
"I need a Settlement Offer Letter under Singapore law to resolve a construction dispute with my contractor, offering a payment of SGD 250,000 in tHRee installments, with the first payment to be made by March 2025."
1. Date and Addressee Details: Formal letter heading with date and complete recipient details including name, designation, and address
2. Reference to Dispute: Clear identification of the dispute or claim being settled, including relevant dates and case references
3. Settlement Amount: Specific settlement sum and detailed payment terms including method and timing of payment
4. Settlement Terms: Key conditions of the settlement including any actions required by either party
5. Timeline for Acceptance: Specific deadline for accepting the offer and method of communicating acceptance
6. Release Clause: Statement of release from future claims upon acceptance of the settlement offer
1. Confidentiality Provisions: Terms regarding confidentiality of the settlement terms and negotiations
2. Non-disparagement Clause: Provisions preventing parties from making negative statements about each other
3. Tax Implications: Statement about tax treatment of settlement amount and responsibility for tax obligations
4. Without Prejudice Statement: Statement clarifying that the offer is made without prejudice to existing legal rights
1. Payment Schedule: Detailed schedule of installment payments if settlement amount is to be paid in multiple tranches
2. Release Form: Template of formal release document to be signed upon acceptance of the settlement
3. Supporting Documentation: List of relevant documents supporting the settlement calculation or terms
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