The Mutual Release And Termination Agreement is a crucial document used when parties wish to formally end their existing contractual relationship on mutually agreed terms under Indonesian law. This document type is particularly relevant when parties want to ensure a clean break while protecting themselves from future claims or disputes. It needs to comply with Indonesian Civil Code (KUHPerdata) requirements and must be drafted in Indonesian or bilingually as per Law No. 24 of 2009. The agreement typically addresses key aspects such as final financial settlements, return of confidential information, and surviving obligations. It's commonly used in commercial relationships, joint ventures, distribution arrangements, and service agreements where parties seek an amicable and documented conclusion to their business relationship.
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1. Parties: Identification of all parties to the agreement, including their legal status and registered addresses
2. Background: Recitals explaining the existing relationship between the parties, reference to the original agreement(s), and the parties' desire to terminate
3. Definitions: Definitions of key terms used in the agreement, including reference to defined terms in the original agreement(s)
4. Termination: Clear statement of termination of the original agreement(s) and the effective date of termination
5. Mutual Release: Provisions for mutual release of claims, liabilities, and obligations between the parties
6. Surviving Obligations: Identification of any provisions from the original agreement that will survive termination
7. Settlement of Accounts: Provisions regarding final payments, reconciliation of accounts, and financial settlements
8. Return of Property: Requirements for return or destruction of confidential information, materials, or property
9. Representations and Warranties: Mutual representations regarding authority to enter into the agreement and other standard warranties
10. General Provisions: Standard boilerplate clauses including governing law, notices, entire agreement, and counterparts
1. Non-Disparagement: Optional provisions preventing parties from making negative statements about each other, particularly relevant for high-profile commercial relationships
2. Transition Assistance: Details of any transitional support or handover requirements, needed when there are ongoing operations to be wound down
3. Tax Provisions: Specific tax-related provisions, required when the termination involves significant financial settlements or tax implications
4. Public Announcements: Rules for making public statements about the termination, particularly important for listed companies or high-profile agreements
5. Employee Matters: Provisions dealing with employee transfers or notifications, needed when the termination affects employment relationships
6. Intellectual Property: Specific provisions regarding the treatment of IP rights post-termination, required when IP was involved in the original relationship
1. Schedule of Terminated Agreements: List of all agreements being terminated, including dates and parties
2. Schedule of Outstanding Payments: Details of any final payments or financial settlements to be made
3. Schedule of Property to be Returned: Inventory of physical or digital assets to be returned or destroyed
4. Schedule of Surviving Obligations: Detailed list of specific obligations that will survive termination
5. Form of Public Announcement: Template or agreed form of any public statements about the termination
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Technology
Financial Services
Real Estate
Energy
Mining
Retail
Healthcare
Agriculture
Construction
Telecommunications
Transportation
Professional Services
Education
Consumer Goods
Relevant Teams
Legal
Corporate Secretarial
Compliance
Finance
Operations
Commercial
Business Development
Risk Management
Procurement
Executive Leadership
Relevant Roles
Legal Director
Chief Legal Officer
General Counsel
Contract Manager
Business Development Director
Chief Executive Officer
Chief Financial Officer
Commercial Director
Compliance Officer
Risk Manager
Company Secretary
Operations Director
Project Manager
Procurement Manager
Head of Legal
Legal Counsel
Business Unit Director
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