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Settlement Letter From Insurance Company
"I need a Settlement Letter From Insurance Company to resolve a motor vehicle claim incident from January 15, 2025, offering a settlement of SGD 25,000 with a confidentiality clause, as the claim involves multiple parties including a corporate entity."
1. Claim Reference Details: Policy number, claim number, date of incident, and nature of claim
2. Settlement Amount: Clear statement of the total settlement sum being offered
3. Basis of Settlement: Explanation of how the settlement amount was calculated and justification
4. Release and Discharge: Terms stating that acceptance of payment constitutes full and final settlement
5. Payment Terms: Method and timing of payment, including any conditions precedent
1. Confidentiality Clause: Terms requiring the settlement details to remain confidential between parties
2. Third Party Rights: Provisions addressing the rights of other parties involved in the claim
3. Time Limit for Acceptance: Specification of deadline for accepting the settlement offer
1. Schedule A - Settlement Calculation: Detailed breakdown of how the settlement amount was calculated
2. Schedule B - Claims Documentation: Copies of relevant claim forms and supporting documents
3. Schedule C - Payment Instructions Form: Form for providing bank account or payment details
4. Schedule D - Release Form: Form to be signed by claimant accepting settlement terms
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