Release Of Liability Settlement Agreement

Release Of Liability Settlement Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

"I need a Release of Liability Settlement Agreement under UAE law for a construction dispute resolution between Al Safar Construction LLC and Gulf Development Corporation, with a settlement amount of AED 2.5 million to be paid in three installments before March 2025."

Document background

The Release Of Liability Settlement Agreement is a crucial legal instrument in the UAE business and legal landscape, used to formally conclude disputes and provide legal certainty to all parties involved. This document type is particularly relevant in the UAE's diverse business environment, where it must align with both civil law traditions and Sharia principles. It is commonly used in situations ranging from commercial disputes and employment matters to personal injury claims and contract terminations. The agreement serves as a comprehensive record of the settlement terms, including the settlement amount, scope of release, and any ongoing obligations. When drafting this document in the UAE, special attention must be paid to local legal requirements, including compliance with Federal Law No. 5 of 1985 (UAE Civil Code) and relevant commercial laws. The document typically includes provisions for payment terms, confidentiality, and non-admission of liability, while ensuring enforceability under UAE jurisdiction.

Suggested Sections

1. Parties: Detailed identification of all parties involved, including full legal names, addresses, and any relevant registration numbers

2. Background: Recitals explaining the context of the dispute or claim and the parties' desire to settle

3. Definitions: Clear definitions of key terms used throughout the agreement, including 'Claims', 'Released Parties', and 'Settlement Amount'

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

5. Release of Claims: Comprehensive description of claims being released, including present and future claims

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

7. Confidentiality: Obligations regarding confidentiality of the settlement terms and related discussions

8. Representations and Warranties: Statements regarding the parties' authority to enter into the agreement and understanding of its terms

9. Governing Law and Jurisdiction: Specification of UAE law as governing law and designation of competent courts

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

11. Execution: Signing provisions and execution requirements

Optional Sections

1. Non-Disparagement: Mutual obligations not to make negative statements about other parties - include when reputational concerns are important

2. Return of Property: Provisions regarding return of documents or property - include when physical or intellectual property is involved

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

4. Tax Implications: Statements regarding tax treatment of settlement - include when settlement involves significant monetary compensation

5. Insurance Matters: Provisions relating to insurance claims or coverage - include when insurance is involved in the settlement

6. Third Party Rights: Provisions regarding rights of third parties - include when settlement affects third party interests

7. Sharia Compliance: Explicit confirmation of compliance with Sharia principles - include when parties specifically require this assurance

Suggested Schedules

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

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

3. Schedule 3 - Required Actions: List of specific actions required by each party to implement the settlement

4. Appendix A - Related Documents: Copies of relevant documents referenced in the agreement

5. Appendix B - Form of Release: Template for any additional release documents required

6. Appendix C - Payment Instructions: Detailed banking or payment information for settlement transfers

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

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Chief Legal Officer

Risk Manager

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Business Development Manager

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Settlement Officer

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Let's create your Release Of Liability Settlement Agreement

Authors

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