A Deed of Waiver and Release is commonly used in Singapore when parties wish to create a legally binding arrangement to surrender rights or claims. This document is particularly important when finalizing settlements, resolving disputes, or concluding business relationships. Under Singapore law, its execution as a deed provides additional legal certainty and enforceability compared to simple contracts. The deed must clearly identify the rights being waived, the claims being released, and include appropriate execution formalities to be valid.
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Key Requirements PROMPT example:
Deed Of Waiver And Release
"I need a Deed of Waiver and Release to document my company's settlement with a former employee who is releasing all claims against us in exchange for a severance package, with the deed to be effective from March 1, 2025."
1. Parties: Identifies all parties to the deed, including full legal names and addresses
2. Background: Explains the context and circumstances leading to the waiver and release
3. Definitions: Defines key terms used throughout the deed
4. Waiver Provisions: Details the specific rights, claims, or obligations being waived
5. Release Provisions: Specifies the release of claims, liabilities, or obligations
6. Execution: Formal execution block including signature, sealing, and witnessing requirements
1. Consideration: Details any consideration provided for the waiver/release - include when consideration is being provided
2. Representations and Warranties: Statements about the parties' authority and capacity - include when additional assurance is required
3. Governing Law: Specifies jurisdiction and applicable law - include when parties are in different jurisdictions
1. Schedule of Waived Rights: Detailed list of specific rights being waived
2. Schedule of Released Claims: Comprehensive list of claims being released
3. Schedule of Related Agreements: List of agreements affected by the waiver and release
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