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Contract Termination Agreement Template for Singapore

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Key Requirements PROMPT example:

Contract Termination Agreement

"I need a Contract Termination Agreement to end a software development agreement with our vendor ABC Technologies, ensuring all source code is transferred to us and including robust confidentiality provisions, with termination effective March 1, 2025."

Document background
The Contract Termination Agreement is essential when parties wish to formally end their contractual obligations before the natural expiry of the contract or when seeking to document the terms of termination. Under Singapore law, this agreement provides certainty and clarity regarding the rights and obligations of all parties post-termination, including settlement terms, mutual releases, and any surviving obligations. It helps prevent future disputes by clearly documenting the agreed terms of separation and ensures compliance with Singapore's legal requirements for contract termination.
Suggested Sections

1. Parties: Identification and details of the contracting parties

2. Background: Context of the original agreement and reasons for termination

3. Definitions: Key terms used throughout the agreement

4. Termination Date: Specific date when the original agreement terminates

5. Settlement Terms: Financial and operational arrangements for termination

6. Mutual Release: Release of claims and liabilities between parties

7. Governing Law: Specification of Singapore law as governing law

Optional Sections

1. Confidentiality: Ongoing obligations regarding confidential information - used when original agreement contained confidentiality provisions

2. Non-Compete: Continuation of non-compete obligations - used when original agreement contained non-compete provisions

3. Return of Property: Process for returning company property or documents - used when physical or intellectual property needs to be returned

4. Public Announcements: Rules for making public statements about the termination - used for high-profile or public-facing agreements

Suggested Schedules

1. Schedule of Outstanding Payments: Details of any payments to be made between parties

2. Schedule of Assets: List of assets to be returned or transferred

3. Original Agreement: Copy of the agreement being terminated

Authors

Alex Denne

Head of Growth (Open Source Law) @ ºÚÁÏÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






















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Industries

Singapore Contract Act 1872: Primary legislation governing contract formation, execution, and termination in Singapore, including principles of offer, acceptance, and consideration

Unfair Contract Terms Act (Cap. 396): Legislation regulating unfair terms in contracts and limiting the extent to which civil liability can be excluded or restricted by contract terms

Employment Act (Cap. 91): Key employment legislation that may be relevant if the termination agreement involves an employment contract, covering terms of service, payment of salary, and other employment conditions

Employment Claims Act 2016: Legislation establishing the Employment Claims Tribunals and framework for resolving salary-related disputes and other employment claims

Tripartite Guidelines on Fair Employment Practices: Guidelines providing fair employment practices that should be considered when terminating employment relationships

Companies Act (Cap. 50): Primary legislation governing companies in Singapore, relevant for termination agreements between corporate entities

Partnership Act (Cap. 391): Legislation governing partnerships, relevant if the termination agreement involves partnership arrangements

Mediation Act 2017: Framework for mediation proceedings in Singapore, relevant for dispute resolution clauses in termination agreements

Arbitration Act (Cap. 10): Legislation governing arbitration proceedings in Singapore, important for dispute resolution mechanisms in termination agreements

Supreme Court of Judicature Act: Legislation establishing the jurisdiction and powers of Singapore courts, relevant for enforcement and dispute resolution

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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