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Full Release Of All Claims With Indemnity Template for Singapore

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Key Requirements PROMPT example:

Full Release Of All Claims With Indemnity

"I need a Full Release Of All Claims With Indemnity to settle an ongoing commercial dispute with my former business partner regarding our joint venture in Singapore, with specific provisions for protecting against future intellectual property claims and including a confidentiality clause."

Document background
The Full Release Of All Claims With Indemnity is a critical legal instrument used in Singapore when parties seek to achieve a complete and final settlement of all disputes, claims, and potential claims between them. This document is particularly relevant following disputes, transactions, or terminations where parties wish to ensure a clean break and protect against future claims. It combines a comprehensive release with indemnification provisions, making it especially suitable for complex commercial situations where potential third-party claims need to be addressed. The document must comply with Singapore's Civil Law Act, Limitation Act, and relevant common law principles.
Suggested Sections

1. Parties: Identifies and defines all parties to the release

2. Background: Outlines the context and circumstances leading to the release

3. Definitions: Defines key terms used throughout the document

4. Release Provisions: Details the specific claims being released and scope of release

5. Indemnification: Specifies indemnity obligations and scope

6. Consideration: States the consideration being provided for the release

7. Governing Law: Specifies Singapore law as governing law

Optional Sections

1. Confidentiality: Include when parties wish to keep the terms of the release and underlying dispute confidential

2. Non-Disparagement: Prevents parties from making negative statements about each other, typically used in employment or business relationship releases

3. Future Cooperation: Sets out obligations for future cooperation between parties where ongoing relationship or obligations exist

4. Return of Property: Provisions for returning physical or intellectual property and documents between parties

Suggested Schedules

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: Details of payment terms if consideration involves monetary payments

4. Property Schedule: List of property to be returned or transferred between parties

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Industries

Civil Law Act (Cap. 43): Primary legislation governing contractual matters and indemnities in Singapore. Key focus on sections dealing with consideration and enforceability of contracts.

Limitation Act (Cap. 163): Establishes statutory limitation periods for different types of claims. Essential for ensuring the release's validity within legal time constraints.

Contract Law: Common law principles covering contract formation, valid consideration requirements, and capacity to contract under Singapore's legal framework.

Unfair Contract Terms Act (Cap. 396): Regulates exclusion clauses and establishes reasonableness tests for indemnity provisions in contracts.

Civil Law (Amendment) Act: Contains provisions regarding contributory negligence and rules about assignment of rights in civil matters.

Personal Data Protection Act 2012: Governs the collection, use, and disclosure of personal data, relevant if the release involves personal information.

Competition Act (Cap. 50B): Ensures compliance with competition laws, particularly relevant for business-related releases and settlements.

Consumer Protection (Fair Trading) Act: Protects consumer interests and addresses unfair practices, applicable when one party is a consumer.

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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