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Full Release Of All Claims With Indemnity Template for Hong Kong

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Key Requirements PROMPT example:

Full Release Of All Claims With Indemnity

"I need a Full Release of All Claims with Indemnity agreement to resolve an ongoing commercial dispute between my technology company and a former supplier, including confidentiality provisions and coverage for all subsidiaries in Hong Kong."

Document background
The Full Release Of All Claims With Indemnity agreement is a crucial document used in Hong Kong to formally settle disputes or potential claims between parties. It is typically employed following negotiations, dispute resolution, or as part of a settlement agreement. The document serves to permanently resolve all existing and potential future claims between parties, while also providing indemnification protection against third-party claims. It is particularly relevant in commercial disputes, employment terminations, corporate transactions, or any situation where parties seek to achieve a clean break and comprehensive resolution of their legal relationships. The agreement must comply with Hong Kong legal requirements, including the Contract Ordinance and Control of Exemption Clauses Ordinance, while incorporating common law principles regarding releases and indemnities.
Suggested Sections

1. Parties: Identifies and defines all parties to the agreement, including full legal names and addresses

2. Background: Sets out the context of the dispute or claims being released and the parties' desire to settle all matters

3. Definitions: Defines key terms used throughout the agreement, including 'Claims', 'Released Parties', and 'Indemnified Matters'

4. Consideration: Specifies the consideration being provided in exchange for the release and indemnity

5. Release: Contains the comprehensive release language covering all claims, known and unknown

6. Indemnity: Details the indemnification obligations, including scope and procedure

7. Representations and Warranties: Contains statements of fact and promises made by the releasing party

8. Non-Admission of Liability: States that the agreement does not constitute an admission of liability by any party

9. Confidentiality: Sets out obligations regarding confidentiality of the agreement and its terms

10. Governing Law and Jurisdiction: Specifies Hong Kong law as governing law and Hong Kong courts' jurisdiction

11. General Provisions: Standard boilerplate clauses including entire agreement, severability, and counterparts

Optional Sections

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

2. Return of Property: Include when there is physical or intellectual property to be returned between parties

3. Cooperation: Include when ongoing cooperation between parties is needed for implementation

4. Tax Implications: Include when settlement involves significant monetary consideration requiring tax clarification

5. Future Claims Carve-Out: Include when certain future claims should be specifically excluded from the release

6. Insurance Matters: Include when insurance policies or claims are relevant to the settlement

Suggested Schedules

1. Schedule 1 - Details of Claims: Comprehensive list of all known claims being released

2. Schedule 2 - Settlement Payment Details: Payment amounts, timing, and method of payment if applicable

3. Schedule 3 - Related Proceedings: List of any legal proceedings to be discontinued

4. Schedule 4 - Released Parties: Detailed list of all parties benefiting from the release if extending beyond primary parties

5. Appendix A - Form of Notice of Discontinuance: Template for discontinuing any existing legal proceedings

6. Appendix B - Required Announcements: Templates for any agreed public statements about the settlement

Authors

Alex Denne

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

Relevant legal definitions



























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Relevant Industries

Financial Services

Manufacturing

Real Estate

Construction

Technology

Professional Services

Healthcare

Retail

Insurance

Transportation and Logistics

Energy

Telecommunications

Relevant Teams

Legal

Compliance

Risk Management

Human Resources

Finance

Executive Leadership

Corporate Governance

Commercial Operations

Insurance

Claims

Relevant Roles

Chief Legal Officer

General Counsel

Legal Director

Corporate Lawyer

Compliance Officer

Risk Manager

Chief Executive Officer

Chief Financial Officer

Human Resources Director

Commercial Director

Company Secretary

Settlement Officer

Claims Manager

Litigation Manager

Contract 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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