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Construction Contract Termination Agreement
"I need a Construction Contract Termination Agreement for an incomplete office building project in Singapore, where the main contractor has gone into liquidation and we need to document the handover of site, materials, and settlement of partial payments by March 2025."
1. Parties: Identifies and defines the contracting parties (employer and contractor)
2. Background: Provides context of the original contract and circumstances leading to termination
3. Definitions: Defines key terms used in the agreement including references to the original contract
4. Termination Details: Specifies effective date of termination, grounds for termination, and acknowledgment of termination
5. Settlement of Accounts: Details final payment arrangements, outstanding payments, and financial reconciliation
6. Works Status and Handover: Addresses the status of completed and incomplete works, site handover procedures
7. Release of Obligations: Mutual release of future obligations under the original contract
8. Surviving Obligations: Specifies which obligations survive termination (e.g., warranties, defects liability)
9. Governing Law and Jurisdiction: Specifies Singapore law as governing law and jurisdiction for disputes
1. Retention of Rights: Preserves specific rights post-termination, including intellectual property rights
2. Confidentiality: Provisions for maintaining confidentiality of project information and documents
3. Dispute Resolution: Specific procedures for resolving any disputes arising from the termination
4. Insurance and Bonds: Handling of insurance policies, performance bonds, and other securities
5. Employee and Subcontractor Matters: Provisions regarding workforce management and subcontractor relationships
1. Schedule 1 - Outstanding Works: Detailed list of incomplete works at the time of termination
2. Schedule 2 - Payment Settlement: Breakdown of final payment calculations and arrangements
3. Schedule 3 - Materials and Equipment: Inventory of materials and equipment on site and their disposition
4. Schedule 4 - Original Contract: Copy of the original construction contract being terminated
5. Schedule 5 - Site Handover Checklist: Detailed checklist for site handover procedures and requirements
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