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Deed Of Termination And Release

Deed Of Termination And Release Template for Australia

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Key Requirements PROMPT example:

Deed Of Termination And Release

"I need a Deed of Termination and Release to end a software development agreement with our contractor, including provisions for the handover of source code and ongoing maintenance support until March 2025, plus mutual confidentiality obligations."

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Document background
The Deed of Termination and Release is a crucial legal document used in Australian business practice when parties wish to formally end their contractual relationship and ensure a clean break. It is particularly relevant when terminating significant commercial agreements, employment relationships, or business partnerships where parties seek certainty and finality. The deed format provides additional legal protection compared to a simple contract, requiring formal execution under Australian law and typically including comprehensive releases to prevent future claims. This document is essential for risk management and proper business relationship closure, often used in conjunction with settlement agreements or as part of broader commercial negotiations. The deed should comply with state-specific requirements for execution and traditionally includes provisions for mutual releases, final payments, return of property, and ongoing obligations such as confidentiality.
Suggested Sections

1. Parties: Identifies all parties to the deed, including their full legal names, addresses, and ACN/ABN for companies

2. Background: Recitals explaining the original agreement, relationship between parties, and reason for termination

3. Definitions and Interpretation: Defines key terms used in the deed and sets out interpretation principles

4. Termination: Clearly states the termination of the original agreement and its effective date

5. Mutual Release: Details the mutual releases from obligations, claims, and liabilities

6. Surviving Obligations: Specifies which obligations from the original agreement survive termination

7. Return of Property: Obligations regarding the return of any confidential information, materials, or property

8. Confidentiality: Ongoing confidentiality obligations post-termination

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

10. Costs: Each party's responsibility for costs related to the deed

11. General Provisions: Standard boilerplate provisions including governing law, entire agreement, and severability

12. Execution: Formal execution blocks for all parties

Optional Sections

1. Payment Provisions: Include when termination involves final payments or settlements between parties

2. Transition Arrangements: Include when parties need ongoing cooperation for smooth transition post-termination

3. Non-Disparagement: Include when parties wish to prevent negative statements about each other post-termination

4. Restraint of Trade: Include when new or continuing non-compete obligations are part of the termination

5. Third Party Rights: Include when termination affects rights of third parties or requires their consent

6. Tax Provisions: Include when termination has specific tax implications that need to be addressed

7. Insurance and Indemnities: Include when specific insurance or indemnity arrangements need to continue

8. Public Announcements: Include when parties need to agree on public communications about the termination

Suggested Schedules

1. Original Agreement: Copy or details of the agreement being terminated

2. Release Specifics: Detailed list of specific claims, rights, or obligations being released

3. Payment Schedule: If applicable, schedule of any termination or settlement payments

4. Property Schedule: Inventory of property, materials, or information to be returned

5. Transition Timeline: If applicable, timeline and milestones for transition arrangements

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 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

Financial Services

Technology

Manufacturing

Professional Services

Real Estate

Construction

Healthcare

Retail

Energy

Mining

Telecommunications

Education

Transport and Logistics

Media and Entertainment

Agriculture

Relevant Teams

Legal

Executive

Human Resources

Finance

Commercial

Operations

Risk and Compliance

Procurement

Business Development

Company Secretariat

Relevant Roles

Chief Executive Officer

Managing Director

Chief Legal Officer

General Counsel

Legal Counsel

Contract Manager

Commercial Manager

Business Development Manager

Human Resources Director

Chief Financial Officer

Company Secretary

Risk Manager

Procurement Manager

Operations Manager

Project Manager

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

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