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Mutual Full And Final Release
"I need a Mutual Full and Final Release agreement under Saudi Arabian law between my construction company and a subcontractor to settle ongoing payment disputes and quality issues, with settlement payment to be completed by March 2025."
1. Parties: Identification of all parties to the release agreement, including full legal names, addresses, and registration details if applicable
2. Background: Context of the dispute or claims being settled, including relevant dates and circumstances
3. Definitions: Key terms used in the agreement, including 'Claims', 'Release', 'Effective Date', and other relevant definitions
4. Consideration: Details of the consideration being exchanged between the parties, if any
5. Mutual Release: Core release provisions where each party releases the other from all claims
6. Scope of Release: Detailed description of what is covered by the release, including known and unknown claims
7. Representations and Warranties: Statements by each party regarding their authority to enter into the agreement and ownership of the claims being released
8. Non-Admission: Statement that the agreement does not constitute an admission of liability by either party
9. Governing Law: Confirmation of Saudi Arabian law as governing law and reference to Shariah principles
10. Language: Specification that Arabic is the controlling language, if agreement is bilingual
11. Execution: Signature blocks and execution requirements
1. Confidentiality: Optional provisions regarding confidentiality of the settlement terms, used when parties wish to keep terms private
2. Non-Disparagement: Mutual agreements not to make negative statements about each other, included when reputational concerns exist
3. Return of Property: Provisions regarding return of documents or property, used when relevant to the settlement
4. Future Cooperation: Terms regarding future interactions between parties, included when ongoing relationship is anticipated
5. Tax Matters: Provisions addressing tax implications of the settlement, used when significant amounts are involved
6. Surviving Claims: Identification of any claims that survive the release, used when certain matters are deliberately excluded
7. Dispute Resolution: Specific procedures for resolving disputes about the release agreement itself, used in complex cases
1. Schedule 1 - Released Claims: Detailed list of specific claims being released
2. Schedule 2 - Settlement Payment Details: Payment amounts, timing, and mechanics of any settlement payments
3. Schedule 3 - Required Actions: List of specific actions parties must take to implement the release
4. Appendix A - Related Entities: List of affiliated entities covered by the release
5. Appendix B - Form of Notice of Discontinuance: Template for withdrawing any existing legal proceedings
6. Appendix C - Arabic Translation: Official Arabic translation of the agreement
Authors
Construction
Real Estate
Manufacturing
Financial Services
Technology
Healthcare
Energy
Telecommunications
Retail
Professional Services
Transportation
Mining
Education
Industrial
Commercial
Legal
Compliance
Risk Management
Executive Leadership
Finance
Corporate Affairs
Operations
Human Resources
Business Development
Project Management
Administrative
Legal Counsel
Chief Legal Officer
Compliance Officer
Risk Manager
Chief Executive Officer
Chief Financial Officer
Contract Manager
Business Development Manager
Corporate Secretary
Settlement Officer
Dispute Resolution Manager
Commercial Director
Operations Manager
Project Manager
Human Resources Director
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