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Construction Settlement Agreement
1. Parties: Identification of all parties to the settlement agreement, including full legal names and addresses
2. Background: Context of the original construction contract, description of the works, and nature of disputes leading to settlement
3. Definitions: Definitions of key terms used throughout the agreement
4. Settlement Sum: Details of the settlement amount, payment terms, and payment schedule
5. Release of Claims: Mutual release of claims related to the disputed matters
6. Completion of Outstanding Works: Details of any remaining works to be completed and associated timeframes
7. Warranties and Representations: Statements of fact and assurances from each party regarding the settlement
8. Confidentiality: Obligations regarding confidentiality of the settlement terms
9. Governing Law and Jurisdiction: Confirmation of Danish law as governing law and jurisdiction for disputes
10. Entire Agreement: Confirmation that this document represents the entire agreement between parties
11. Execution: Signature blocks and execution formalities
1. Dispute Resolution: Specific mechanisms for resolving any future disputes, included when parties want to specify particular dispute resolution procedures
2. Insurance Claims: Provisions regarding ongoing or future insurance claims, included when insurance matters are part of the settlement
3. Third Party Rights: Provisions regarding rights of third parties, included when subcontractors or other third parties are affected
4. Tax Provisions: Specific provisions regarding tax treatment of settlement payments, included when tax implications need to be addressed
5. Publicity: Provisions regarding public announcements, included when public disclosure needs to be managed
6. Retention of Documents: Requirements for document retention, included when specific record-keeping obligations need to be addressed
7. Interim Arrangements: Temporary arrangements pending full implementation of settlement, included when phased implementation is required
1. Schedule 1 - Original Contract: Copy or summary of the original construction contract
2. Schedule 2 - Schedule of Defects: List of construction defects or issues being settled
3. Schedule 3 - Payment Schedule: Detailed breakdown of settlement payments and timing
4. Schedule 4 - Outstanding Works: Detailed specification of any works still to be completed
5. Schedule 5 - Release Documentation: Forms of release or discharge to be executed
6. Appendix A - Correspondence: Key correspondence relating to the dispute and settlement
7. Appendix B - Technical Reports: Relevant technical or expert reports
8. Appendix C - Completion Certificates: Certificates or documentation confirming completion of various aspects
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