tetratorus · February 20, 2018 12:29 · Feb 20, 2018
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+***THIS LOAN SETTLEMENT AGREEMENT*** is made on
+\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_
+
+***BACKGROUND***
+
+1.  Pursuant to a loan by the Singapore Management University (SMU)
+    constituent body known as Special Interest and Community Service
+    Sodality (SICS) of S$6,240.00 to the SMU Wine Appreciation
+    Club (WAC) for the repayment of the debt incurred previously.
+
+2.  After many repayment proposals and attempts, SICS recognizes the
+    difficulty in raising revenue through club activities for WAC due to
+    the inherent nature of the subject matter being dealt with, i.e.
+    Alcohol.
+
+3.  In light of this understanding, SICS and WAC have decided to enter
+    into this agreement to assist in the repayment of the loan
+    of S$6,240.00.
+
+***IT IS AGREED*** as follows:
+
+**1. *DEFINITIONS***
+
+In this Agreement:
+
+> “***Semester***” refers to the first academic semester of AY15/16
+> (i.e. 17<sup>th</sup> August 2015 – 31<sup>st</sup> December 2015)
+
+**2. *WAIVER BY SICS***
+
+2.1 In light of the restrictions and difficulties faced by WAC, SICS
+shall waive a portion of the loan to the sum of S$1,700.00 from the
+total loan of S$6,240.00 owed by WAC to SICS.
+
+**2.2 The waiver will take effect on the date stated at the beginning of
+this Agreement. **
+
+2.3 The remainder amount after the waiver shall be henceforth referred
+to as “**The Remaining Loan**”.
+
+**3. *REPAYMENT OF THE REMAINING LOAN***
+
+3.1 With the indulgence by SICS for the waiver of S$1,700.00, both
+parties agree that this repayment agreement is a full and final
+settlement for WAC’s loan from SICS, and WAC will repay **The Remaining
+Loan** in the following manner.
+
+3.2 WAC will conduct in this **Semester**, the following events:
+
+-   Collaboration with SMU Gourmet Club in *Délicieux* with a wine
+    appreciation workshop.
+
+-   Collaboration with SMU Women’s Connection for a networking workshop
+    with a wine appreciation component.
+
+-   Conducting an “Around the World” wine appreciation lesson for
+    intermediate participants
+
+-   Collaboration with SMU Barworks for a beer appreciation event in
+    line with Oktoberfest.
+
+-   Collaboration with SMU Gourmet Club for the bi-annual “Thank God Its
+    Over (TGIO)” buffet style wine and dine celebration nearing the end
+    of the **Semester**.
+
+3.3 WAC shall endeavor to promote the events as listed in **3.2**
+through the following methods
+
+-   For each event listed in **3.2**, with the exception of the
+    collaboration with SMU Women’s Connection, shall have **TWO (2)**
+    emailers sent out to the students.
+
+-   For each event listed in **3.2**, with the exception of the
+    collaboration with SMU Women’s Connection, shall be posted on the
+    WAC Facebook page.
+
+3.4 In addition, WAC will create and submit a Safety Standard Operating
+Procedure (SSOP) as attached in **ANNEX A**.
+
+3.5 WAC will also be taking part in SICS Day 2015, should it not clash
+with any events that are listed in **3.2**.
+
+3.6 WAC will be involved in setting up a booth with activities to
+involve the participants. The details of the activities are as listed in
+**ANNEX B**, subject to changes by both SICS and WAC.
+
+3.7 As of 21<sup>st</sup> December 2015, SICS shall have claim over the
+value amounting to the full amount of the money in both WAC’s current
+account and reserves as reflected on 21<sup>st</sup> December 2015, as
+well as any subsequent deposits into the account only for transactions
+occurring during the **Semester**.
+
+3.8 If **The Remaining Loan** is not addressed by the end of the
+**Semester**, then a meeting will be set up between SICS and WAC to
+discuss further.
+
+**4. *OTHER COVENANTS***
+
+4.1 The parties henceforth agree to be legally bound by the following
+contract.
+
+1.  Parties agree that this Agreement constitutes the entire agreement
+    of the parties relating to the loan of S$6,240.00 **addressed** in
+    this Agreement. This Agreement **supersedes** all prior
+    communications, contracts, or agreements between the parties with
+    respect to the subject matter addressed in this Agreement, whether
+    oral or written.
+