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The Structured Settlement Agreement is utilized when parties wish to resolve a claim tHRough scheduled payments rather than a lump sum. This document is particularly relevant in Singapore for personal injury, medical malpractice, or substantial liability cases. It outlines payment terms, tax implications, and often involves insurance products to guarantee future payments. The agreement must comply with Singapore's Civil Law Act and related regulations, offering both parties financial and tax advantages while ensuring long-term security for the recipient. Structured settlements have become increasingly popular in Singapore as they provide a more manageable way to settle large claims while protecting both parties' interests.
