Settlement Release Letter Template for Singapore

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Key Requirements PROMPT example:

Settlement Release Letter

"Need a Settlement Release Letter under Singapore law to resolve an ongoing commercial dispute with our supplier TechPro Solutions, with a settlement amount of $250,000 to be paid by March 15, 2025, including confidentiality provisions and non-disparagement clauses."

Document background
The Settlement Release Letter is a crucial document used when parties have agreed to resolve their disputes outside of court. It's particularly relevant in Singapore's business-friendly legal environment, where alternative dispute resolution is encouraged. This document formally documents the settlement terms, releases future claims, and provides certainty to all parties involved. Under Singapore law, the Settlement Release Letter must be carefully drafted to ensure enforceability and should include clear terms about the scope of release, consideration, and any conditions precedent or subsequent.
Suggested Sections

1. Sender and Recipient Details: Full names, addresses, and roles of all parties involved in the settlement

2. Reference to Dispute: Clear identification and description of the dispute or claim being settled

3. Settlement Amount: Specific amount agreed upon and payment terms for the settlement

4. Release Terms: Comprehensive scope of claims being released and discharged

5. Effective Date: Specification of when the release becomes effective and binding

Optional Sections

1. Confidentiality Provisions: Terms requiring parties to maintain confidentiality of settlement terms and related information

2. Non-Disparagement Clause: Terms preventing parties from making negative statements about each other

3. Tax Provisions: Clarification of tax implications and responsibilities related to the settlement

4. Return of Property: Terms governing the return of any physical items, documents, or other property

5. Non-Admission of Liability: Statement clarifying that settlement does not constitute admission of liability

Suggested Schedules

1. Payment Schedule: Detailed schedule of installment payments if applicable

2. List of Released Claims: Comprehensive enumeration of all specific claims being released

3. Related Documents: Copies or references to relevant agreements, court documents, or other material documents

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

Industries

Civil Law Act (Cap. 43): Primary legislation governing contract formation, validity, and enforcement in Singapore. Fundamental for ensuring the settlement agreement meets basic contractual requirements.

Common Law Contract Principles: Singapore's contract law is based on common law principles, covering offer, acceptance, consideration, and intention to create legal relations.

Contracts (Rights of Third Parties) Act: Relevant when the settlement agreement may affect or benefit third parties not directly party to the agreement.

Limitation Act (Cap. 163): Sets statutory time limits for various types of claims. Critical for ensuring the settlement is made within legal timeframes and the claims being released are still valid.

Evidence Act (Cap. 97): Governs the admissibility of evidence and documentary requirements. Important for ensuring the settlement agreement meets evidential standards.

Specific Relief Act: Provides framework for remedies and discharge of obligations. Relevant for understanding how the settlement terms can be enforced.

Employment Act: Key legislation if the settlement involves employment-related disputes. Sets out basic terms and working conditions.

Work Injury Compensation Act: Relevant for settlements involving workplace injuries or occupational diseases.

Industrial Relations Act: Applicable for settlements involving industrial disputes or union matters.

Mediation Act: Governs mediated settlements, including enforceability and confidentiality provisions if the settlement arose from mediation.

Personal Data Protection Act 2012: Regulates the collection, use, and disclosure of personal data. Important if the settlement involves personal information.

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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