The Independent Contractor Termination document is essential when ending a contractor relationship in Singapore. It provides a clear framework for termination, ensuring compliance with Singapore's legal requirements and protecting both parties' interests. This document specifies final payment terms, confidentiality obligations, intellectual property rights, and post-termination responsibilities. It's particularly important in Singapore's business environment where independent contractor relationships are common across various industries and must be properly documented to avoid potential misclassification issues or disputes.
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1. Date and Parties: Identification of contractor and company
2. Reference to Original Agreement: Details of the original contractor agreement being terminated
3. Termination Statement: Clear statement of termination and effective date
4. Final Payment Terms: Details of final payments, including outstanding invoices
5. Return of Property: Requirements for returning company property
6. Surviving Obligations: List of obligations that continue post-termination including confidentiality and intellectual property rights
1. Transition Period: Used when handover period is required for complex projects requiring knowledge transfer
2. Mutual Release: Release of claims between parties when a clean break is desired with no future claims
3. Reference Provision: Terms for providing references when agreed between parties
1. Schedule of Outstanding Work: List of work to be completed before termination
2. Schedule of Company Property: Inventory of items to be returned
3. Final Payment Schedule: Detailed breakdown of final payments and payment timeline
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