A Release and Waiver of Claims Agreement is commonly used in Singapore to formally settle disputes or potential claims between parties. This document is essential when parties wish to achieve final closure on actual or potential legal issues, typically following a dispute, accident, or completion of a business relationship. The agreement must conform to Singapore's legal framework, particularly the Civil Law Act and Unfair Contract Terms Act. It provides certainty to both parties by clearly defining which claims are being released and the consideration being provided in exchange. This type of agreement is particularly valuable in preventing future litigation and providing legal certainty for all parties involved.
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1. Parties: Identifies all parties to the agreement with full legal names and addresses
2. Background: Explains context and circumstances leading to the release and waiver
3. Definitions: Defines key terms used throughout the agreement
4. Release Provisions: Details of claims being released and waived
5. Consideration: Specifies what is being given in exchange for the release
6. Representations and Warranties: Statements of fact and promises by the releasing party
7. Governing Law: Specifies Singapore law as governing law
8. Execution: Signature blocks and execution requirements
1. Confidentiality: Used when parties wish to keep the terms of settlement confidential
2. Non-Disparagement: Prevents parties from making negative statements about each other
3. Future Cooperation: Obligations for future cooperation between parties
4. Return of Property: Provisions for returning any property or documents
1. Schedule of Released Claims: Detailed list of specific claims being released
2. Schedule of Excluded Claims: List of claims specifically excluded from the release
3. Payment Schedule: If consideration involves payments, details of payment terms and schedule
4. Related Agreements: Copies of any related agreements referenced in the main document
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