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High Low Settlement Agreement
"I need a High Low Settlement Agreement under Swiss law for a construction dispute between ABC Construction AG and XYZ Development GmbH, with a high amount of CHF 2 million and a low amount of CHF 500,000, to be triggered by the court decision expected in March 2025."
1. Parties: Identification of all parties to the agreement, including plaintiff, defendant, and any insurers involved
2. Background: Description of the underlying dispute and current litigation status
3. Definitions: Definitions of key terms including 'High Amount', 'Low Amount', 'Trigger Event', and other relevant terms
4. Settlement Parameters: Clear specification of the high and low amounts and the circumstances under which each would apply
5. Trigger Event: Definition of the event (usually court judgment or arbitration award) that determines the settlement amount
6. Payment Terms: Timing and method of payment once the trigger event occurs
7. Release of Claims: Mutual releases between parties effective upon payment of the settlement amount
8. Confidentiality: Provisions regarding confidentiality of the agreement terms
9. Governing Law and Jurisdiction: Specification of Swiss law as governing law and jurisdiction for disputes
10. Entire Agreement: Integration clause confirming this document represents the entire agreement between parties
1. Multiple Party Provisions: Required when there are multiple plaintiffs or defendants to specify how the high-low amounts apply to each
2. Insurance Company Obligations: Needed when insurers are party to the agreement to specify their obligations
3. Interest Provisions: Optional section specifying if and how interest applies to the settlement amounts
4. Tax Provisions: Required when there are specific tax implications that need to be addressed
5. Interim Payments: Needed when parties agree to any payments prior to the trigger event
6. Appeals Process: Required when parties want to specify rights regarding appeals of the trigger event decision
7. Alternative Dispute Resolution: Optional provisions for resolving disputes about the agreement interpretation
1. Schedule A - Calculation Method: Detailed methodology for calculating final settlement amount within high-low parameters
2. Schedule B - Payment Schedule: Detailed timeline and mechanics for payment processing
3. Schedule C - Underlying Claim Documentation: Summary of the underlying claim and relevant documentary evidence
4. Appendix 1 - Power of Attorney: If applicable, authorization documents for representatives signing the agreement
5. Appendix 2 - Court Documents: Relevant court filings or orders related to the underlying dispute
6. Appendix 3 - Insurance Policies: Relevant insurance policies if insurers are involved in the settlement
Authors
Insurance
Financial Services
Manufacturing
Construction
Healthcare
Transportation
Professional Services
Real Estate
Industrial
Energy
Legal
Risk Management
Claims
Compliance
Insurance
Corporate Affairs
Legal Operations
Dispute Resolution
Business Affairs
Executive Leadership
Legal Counsel
Risk Manager
Claims Manager
Insurance Underwriter
Corporate Attorney
Litigation Manager
Chief Legal Officer
Settlement Officer
Compliance Officer
General Counsel
Chief Risk Officer
Legal Operations Manager
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