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Statement Of Release Form for Hong Kong

Statement Of Release Form Template for Hong Kong

A Statement of Release Form under Hong Kong law is a formal legal document that provides a binding release of claims, rights, or obligations between parties. This document serves as evidence that one party (the releasor) voluntarily relinquishes their right to pursue legal action or claims against another party (the releasee) in exchange for specified consideration or mutual benefit. The document must comply with Hong Kong contract law requirements and typically includes detailed provisions regarding the scope of release, warranties, and governing law clauses to ensure enforceability within the Hong Kong legal system.

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What is a Statement Of Release Form?

The Statement of Release Form is a crucial legal instrument in Hong Kong's business and legal landscape, commonly used to formally conclude disputes, settle claims, or mark the end of business relationships. This document is particularly important in employment terminations, business settlements, accident claims, or corporate transactions where parties seek to prevent future litigation. The form must be drafted in compliance with Hong Kong's Contract Ordinance and related legislation, typically including specific details about the claims being released, any consideration provided, and representations by the releasing party. The Statement of Release Form serves as a permanent record of the agreement and provides legal protection for the releasee against future claims related to the specified matters. It's essential that the document clearly identifies all parties, explicitly states the claims being released, and includes any necessary warranties or representations to ensure its enforceability under Hong Kong law.

What sections should be included in a Statement Of Release Form?

1. Parties: Identification of the releasing party (releasor) and the party being released (releasee), including full legal names and addresses

2. Background: Brief context of the situation leading to the release, including relevant dates and circumstances

3. Definitions: Key terms used in the release form, including 'Claims', 'Effective Date', and any specific terms relevant to the release

4. Release and Discharge: Core section detailing the specific claims, rights, and causes of action being released

5. Consideration: Statement of the consideration (if any) being provided in exchange for the release

6. Representations and Warranties: Statements by the releasing party confirming their authority to give the release and understanding of its implications

7. Governing Law: Specification that Hong Kong law governs the release and its interpretation

8. Execution: Signature blocks for all parties and witnesses

What sections are optional to include in a Statement Of Release Form?

1. Confidentiality: Include when the parties wish to keep the terms of the release and underlying dispute confidential

2. Non-Disparagement: Include when parties agree not to make negative statements about each other

3. Reservation of Rights: Include when certain rights or claims are specifically excluded from the release

4. Future Cooperation: Include when ongoing cooperation between parties is required for certain matters

5. Return of Property: Include when physical or intellectual property needs to be returned as part of the release

6. Tax Implications: Include when the release involves payment that may have tax consequences

7. Insurance Claims: Include when insurance policies or claims are relevant to the release

What schedules should be included in a Statement Of Release Form?

1. Schedule 1 - Released Claims: Detailed list of specific claims, causes of action, or rights being released

2. Schedule 2 - Consideration Details: If applicable, detailed breakdown of any payment or other consideration being provided

3. Schedule 3 - Related Agreements: List of any related agreements or documents affected by or referenced in the release

4. Appendix A - Supporting Documents: Copies of relevant documentation supporting the release (e.g., incident reports, prior agreements)

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

Jurisdiction

Hong Kong

Publisher

Ƶ

Document Type

Agreement Contract

Cost

Free to use
Relevant legal definitions

























Clauses

























Relevant Industries

Financial Services

Professional Services

Manufacturing

Real Estate

Construction

Technology

Healthcare

Retail

Education

Insurance

Employment Services

Legal Services

Relevant Teams

Legal

Human Resources

Compliance

Risk Management

Corporate Governance

Operations

Executive Leadership

Administrative

Employment Relations

Relevant Roles

Legal Counsel

HR Director

Risk Manager

Compliance Officer

Chief Legal Officer

HR Manager

Company Secretary

Chief Executive Officer

Operations Manager

Contract Administrator

Settlement Officer

Claims Manager

Employment Relations 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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