Settlement Agreement And Release

Settlement Agreement And Release Template for Saudi Arabia

Create a bespoke document in minutes, or upload and review your own.

4.6 / 5

4.8 / 5

Let's create your Settlement Agreement And Release

1. Select your governing law and document type:

2. Enter your key requirements:

3. Create your document to edit, review or download

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

"I need a Settlement Agreement and Release under Saudi law for resolving a commercial dispute between our manufacturing company and a supplier, including a structured payment plan of SAR 2.5 million to be paid in installments by March 2025."

Document background

The Settlement Agreement and Release serves as a crucial legal instrument in Saudi Arabia for resolving disputes and preventing future litigation. It is commonly used when parties wish to conclude ongoing disputes or prevent potential conflicts from escalating to litigation. The document must carefully balance Sharia law principles with modern commercial practices, ensuring enforceability within Saudi Arabia's legal system. It typically includes detailed settlement terms, comprehensive releases, confidentiality provisions, and specific enforcement mechanisms. This document type is particularly important in Saudi Arabia's business environment, where maintaining relationships while resolving disputes is highly valued. The agreement must be drafted with careful consideration of Saudi Arabia's Civil Code, Commercial Courts Law, and relevant sector-specific regulations, often requiring both Arabic and English versions with Arabic prevailing in case of disputes.

Suggested Sections

1. Parties: Identification of all parties to the agreement, including full legal names, addresses, and registration details if companies

2. Background: Description of the dispute or circumstances leading to the settlement, including reference to any existing proceedings

3. Definitions: Key terms used throughout the agreement defined for clarity and consistency

4. Settlement Sum: Details of the settlement amount, payment terms, method, and timing

5. Release and Waiver: Comprehensive release of claims and waiver of rights related to the dispute

6. Confidentiality: Obligations regarding confidentiality of the settlement terms and related information

7. No Admission of Liability: Statement that the settlement does not constitute admission of liability by any party

8. Governing Law and Jurisdiction: Specification of Saudi law as governing law and relevant court jurisdiction

9. Entire Agreement: Confirmation that this document represents the complete agreement between parties

10. Language: Specification of Arabic as the governing language with English translation

11. Execution: Details of how the agreement is to be executed, including number of copies

Optional Sections

1. Non-Disparagement: Mutual obligations not to make negative statements about other parties - used in high-profile or employment-related settlements

2. Tax Provisions: Allocation of tax responsibilities - included when settlement involves significant sums or tax implications

3. Future Cooperation: Obligations regarding future cooperation between parties - used when ongoing relationship is necessary

4. Return of Property: Provisions for return of documents or property - relevant in employment or commercial partnership settlements

5. Insurance and Indemnity: Additional protection clauses - used in complex commercial settlements

6. Regulatory Compliance: Specific regulatory obligations - included when settlement involves regulated industries

7. Third Party Rights: Provisions affecting rights of third parties - used when settlement impacts other entities

Suggested Schedules

1. Schedule 1 - Settlement Payment Details: Detailed breakdown of settlement amounts and payment schedule

2. Schedule 2 - Released Claims: Comprehensive list of specific claims being settled and released

3. Schedule 3 - Required Actions: List of specific actions parties must take to implement the settlement

4. Schedule 4 - Relevant Documents: List of documents referenced in or relevant to the settlement

5. Appendix A - Form of Release: Standard form of release to be executed by relevant parties

6. Appendix B - Payment Instructions: Detailed banking and payment execution instructions

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 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

Banking & Financial Services

Construction & Engineering

Manufacturing

Oil & Gas

Real Estate & Property

Technology & Telecommunications

Healthcare

Retail & Consumer Goods

Professional Services

Transportation & Logistics

Education

Insurance

Relevant Teams

Legal

Compliance

Risk Management

Human Resources

Finance

Operations

Corporate Governance

Business Development

Contract Administration

Dispute Resolution

Relevant Roles

Chief Legal Officer

Legal Director

General Counsel

Chief Executive Officer

Chief Financial Officer

Compliance Manager

Risk Manager

Human Resources Director

Commercial Director

Operations Manager

Corporate Secretary

Business Development Manager

Contract Manager

Dispute Resolution Manager

Settlement Officer

Find the exact document you need

Release Of Memorandum Of Contract

A Saudi Arabian legal document that formally terminates and releases parties from their obligations under a previously registered memorandum of contract, governed by Saudi law and Sharia principles.

������Ƶ

How a Sales & Marketing Lead uses ������Ƶ to reduce contract drafting time by 95%

Let's create your Settlement Agreement And Release

Authors

Alex Denne

Find the exact document you need

Release Of Memorandum Of Contract

Co Performer Release Agreement

General Waiver Of Liability

Contract And Release

Simple Release Agreement

Insurance Hold Harmless Agreement

Debt Waiver Agreement

Agreement Not To Sue

Waiver Of Liability Form

Termination Release Agreement

Talent Release Agreement

Payment Release Agreement

Lease Termination Letter From Tenant To Landlord

Equipment Rental Release Form

Apartment Lease Termination Letter

Housing Contract Termination Letter

Release Of Personal Guaranty

Severance Pay Release Of Claims

Mutual Release Of Purchase Agreement

Release Of Non Compete Agreement

Roommate Release Form

Settlement Release Agreement

Non Liability Contract

Personal Training Waiver Of Liability

Release And Waiver Agreement

Release And Waiver Of Claims

Settlement Agreement And Release Of All Claims

Mutual Release Form

Mutual Release And Termination Agreement

Contract Release Form

Mutual Rescission And Release Agreement

Medical Waiver Of Liability Form

Release Of Liability Agreement

Receipt And Release Agreement

Mutual Release And Settlement Agreement

General Release Agreement

Indemnification Waiver

Settlement Agreement And Release

Release Of Claims Agreement

Agreement And Release

Separation And Release Agreement

General Release Form

Location Release Form

Download our whitepaper on the future of AI in Legal

�ұ�Ծ���’s Security Promise

Your documents are private:

Your documents are protected:

Organizational security

Innovation in privacy:

Want to know more?

Use Cases

��Ƶ

How a Sales & Marketing Lead uses ��Ƶ to reduce contract drafting time by 95%

�ұ�Ծ��’s Security Promise