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Subrogation Release Form

Subrogation Release Form Template for Singapore

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Key Requirements PROMPT example:

Subrogation Release Form

"Need a Subrogation Release Form under Singapore law for an insurance settlement of $250,000 related to a factory equipment damage claim, where our insurance company will pursue recovery from the equipment manufacturer, to be finalized by March 2025."

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Document background
A Subrogation Release Form is essential in insurance claim settlements under Singapore jurisdiction where an insurer seeks to recover payments made to an insured party from a responsible third party. This document is typically used after the insurer has paid a claim and wishes to pursue their legal right of recovery. The form includes critical elements such as party details, incident information, payment amounts, and release terms. Under Singapore law, the Subrogation Release Form must comply with the Insurance Act, Civil Law Act, and relevant common law principles to be legally enforceable.
Suggested Sections

1. Identification of Parties: Details of insurer, insured, and third party involved in the subrogation

2. Recitals: Background information including incident details, claim details, and payment made

3. Release Statement: Formal statement of release of claims and rights

4. Consideration: Statement of payment or consideration for the release

5. Governing Law: Specification of Singapore law as governing law

6. Execution Block: Signature blocks for all parties

Optional Sections

1. Confidentiality Clause: Used when parties wish to keep settlement terms confidential - recommended for sensitive cases or high-value settlements

2. Indemnification Clause: Additional protection for released parties - recommended for complex cases with multiple potential claims

3. Non-admission of Liability: Statement that payment does not constitute admission of liability - included when requested by paying party

Suggested Schedules

1. Schedule of Damages: Itemized list of damages or losses being settled

2. Schedule of Payments: Details of payment amounts and timing if multiple payments are involved

3. Supporting Documentation: Copies of relevant insurance policies, claim documents, or incident reports

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

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alex.den.21@genieai.co
Industries

Civil Law Act (Chapter 43): Primary legislation governing civil law matters in Singapore, particularly relevant for sections dealing with assignments and transfers of rights in subrogation contexts

Insurance Act (Chapter 142): Key legislation governing insurance contracts in Singapore, containing provisions relating to insurance contracts, subrogation rights, and regulations governing insurance companies' rights of recovery

Singapore Common Law Contract Principles: Fundamental contract law principles including contract formation requirements, consideration principles, and rights of third parties under Singapore's common law system

Limitation Act (Chapter 163): Legislation establishing time limits for bringing claims and statutory limitations on recovery rights in Singapore

Consumer Protection (Fair Trading) Act: Legislation protecting consumer interests in Singapore, relevant when subrogation involves consumer transactions

Personal Data Protection Act 2012: Singapore's primary data protection legislation, applicable when personal data is being collected or processed as part of the subrogation process

Unfair Contract Terms Act: Legislation governing the fairness and enforceability of contract terms in Singapore, ensuring release terms are valid and enforceable

Third Parties (Rights against Insurers) Act: Legislation governing the rights of third parties in insurance contexts within Singapore's legal framework

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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