A General Release Letter is commonly used in Singapore when parties wish to formally settle disputes or terminate ongoing obligations. This document is particularly valuable in situations involving employment terminations, settlement of disputes, or conclusion of business relationships. Under Singapore law, the release must be properly executed with clear consideration to be legally binding. The document typically outlines the specific claims being released, any payment or consideration involved, and includes provisions for future claims. The General Release Letter should be drafted in compliance with Singapore's contract law principles and relevant statutes.
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Key Requirements PROMPT example:
General Release Letter
"I need a General Release Letter to formalize the end of a business partnership with my co-founder, releasing both parties from all past claims and obligations, with a consideration of SGD 50,000 to be paid by March 15, 2025."
1. Date: Date of the release letter
2. Parties' Information: Full names and addresses of releasing and released parties
3. Subject Matter: Clear description of claims/rights being released
4. Release Statement: Explicit statement of release and discharge
5. Consideration: Statement of consideration (if any) for the release
6. Signature Block: Space for signatures and witness details
1. Confidentiality: Include when release terms should remain confidential between parties
2. Non-admission of Liability: Statement that release does not constitute admission of liability by any party
3. Future Claims: Provisions regarding waiver of unknown future claims
1. Description of Claims: Detailed list of specific claims being released
2. Payment Schedule: If release involves payment terms or installments
3. Related Documents: List of associated agreements or documents being referenced
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