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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."
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
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
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
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