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Document Description
The Arbitration Agreement is a legally binding contract and an arbitral award that settles a dispute between Party A and Party B. The agreement is made on the current date and is enforceable in a court of law. The agreement states that Party B will pay a settlement amount to Party A by the settlement date. In return, Party A agrees to perform certain actions within 3 working days from the date of clearance of the settlement amount. Both parties confirm that they have no claims against each other and release each other from all past, present, and existing liabilities. The settlement agreement is the full and final settlement of all claims and disputes related to the claim. It supersedes any prior written or oral agreements between the parties. The agreement is severable, meaning that if any term or condition is held invalid by the court, the agreement will still be valid. Each party agrees to bear its own costs, and the terms of the settlement agreement should not be disclosed to third parties unless required by law or court order. The agreement is binding on the respective assignees and successors of the parties, and it cannot be assigned or transferred without the written consent of the parties. No third party has the right to enforce the terms of the agreement. The agreement shall be executed in counterparts, and a person who is not a party to the agreement cannot enforce its terms.
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1. Party B should pay the settlement amount to Party A by the settlement date.
2. Party A should perform the agreed actions within 3 working days from the date of clearance of the settlement amount.
3. Both parties should confirm that they have no claims against each other and release each other from all past, present, and existing liabilities.
4. The settlement agreement is the full and final settlement of all claims and disputes related to the claim.
5. The agreement supersedes any prior written or oral agreements between the parties.
6. If any term or condition of the agreement is held invalid by the court, the agreement will still be valid.
7. Each party should bear its own costs, including all costs related to the claim.
8. The terms of the settlement agreement should not be disclosed to third parties, except as required by law or court order.
9. The agreement is binding on the respective assignees and successors of the parties.
10. The agreement cannot be assigned or transferred without the written consent of the parties.
11. No third party has the right to enforce the terms of the agreement.
12. The agreement shall be executed in counterparts.
13. Only parties to the agreement have the right to enforce its terms.
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