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Contract Release Form

Contract Release Form Template for Saudi Arabia

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Key Requirements PROMPT example:

Contract Release Form

"I need a Contract Release Form under Saudi Arabian law to terminate a construction contract with Al Madina Contractors LLC, releasing both parties from all obligations effective March 1, 2025, including provisions for the return of project documentation and maintaining confidentiality of project details."

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Document background
The Contract Release Form is a critical legal instrument used in Saudi Arabia when parties wish to formally terminate their contractual obligations and provide mutual releases from future claims. This document is particularly relevant in situations involving business dissolution, settlement of disputes, completion of projects, or termination of employment relationships. It must comply with both Saudi civil law and Sharia principles, requiring careful consideration of Islamic commercial law principles such as mutual consent (Ridha) and fair consideration (Iwad). The document typically includes comprehensive release provisions, acknowledgments of receipt of consideration, and necessary formalities for enforcement under Saudi law. It's essential for risk management and providing legal certainty in business relationships within the Saudi Arabian jurisdiction.
Suggested Sections

1. Parties: Full legal names and details of all parties involved in the release agreement

2. Background: Context of the original contract and the circumstances leading to this release

3. Definitions: Key terms used in the release agreement, including 'Released Claims', 'Effective Date', and other relevant definitions

4. Release and Discharge: Core section detailing the scope of release, what claims are being released, and the mutual discharge of obligations

5. Consideration: Statement of the consideration being provided in exchange for the release

6. Acknowledgments: Parties' confirmation of understanding the release's implications and having received independent legal advice

7. Governing Law: Explicit statement that Saudi law and Sharia principles govern the release

8. Language: Specification that Arabic is the governing language, with English translation for reference only

9. Execution: Formal execution block complying with Saudi requirements for legal documents

Optional Sections

1. Non-Admission of Liability: Optional clause stating that the release does not constitute admission of liability by any party - used in dispute settlements

2. Confidentiality: Terms regarding confidentiality of the release and its terms - used when parties wish to maintain privacy

3. Return of Property: Provisions for returning any relevant property or documents - used when physical items or documents need to be exchanged

4. Future Cooperation: Terms regarding any required future cooperation between parties - used in complex business relationships

5. Surviving Obligations: List of any obligations that survive the release - used when certain terms from original agreement should remain in effect

Suggested Schedules

1. Schedule 1 - Original Contract: Copy or details of the contract being released

2. Schedule 2 - Settlement Payment Details: If applicable, breakdown of any settlement payments or financial considerations

3. Schedule 3 - Released Claims: Detailed list of specific claims being released, if any

4. Appendix A - Required Authorizations: Copies of any required corporate or governmental authorizations

5. Appendix B - Supporting Documents: Any relevant supporting documentation referenced in the main agreement

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions

























Clauses

























Relevant Industries

Construction

Manufacturing

Oil and Gas

Professional Services

Real Estate

Banking and Finance

Technology

Healthcare

Education

Retail

Telecommunications

Transportation and Logistics

Relevant Teams

Legal

Human Resources

Compliance

Risk Management

Operations

Finance

Corporate Governance

Contract Management

Business Development

Project Management

Relevant Roles

Legal Counsel

Contract Manager

Business Development Manager

Human Resources Director

Chief Executive Officer

Chief Legal Officer

Project Manager

Compliance Officer

Risk Manager

Operations Director

Company Secretary

Finance Director

Industries






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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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