Document background
The Settlement Release And Indemnity Agreement is a crucial document used in Singapore when parties wish to formally resolve disputes and prevent future litigation. It serves multiple purposes: documenting the settlement terms, providing releases from future claims, and establishing indemnification obligations. This agreement type is commonly used in commercial disputes, insurance settlements, employment matters, and other contentious situations where parties seek a definitive resolution. The document must comply with Singapore contract law requirements and typically includes specific provisions about payment terms, scope of release, and indemnification obligations. It's particularly important in cases where multiple parties are involved or where there are complex claims to be resolved.
