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Discharge Deed
"I need a Discharge Deed to release ABC Manufacturing Sdn Bhd from all obligations under our supply agreement dated March 15, 2025, with a final settlement payment of RM 50,000 to be made by January 31, 2025."
1. Parties: Identifies all parties to the deed, including the parties being discharged and those granting the discharge
2. Background: Recitals setting out the context, including details of the original agreement/obligation and reasons for discharge
3. Definitions: Defines key terms used in the deed, including references to the original agreement and relevant dates
4. Discharge: Core provision stating the discharge of obligations and its effective date
5. Mutual Release: Provisions where parties mutually release each other from claims relating to the discharged obligations
6. Return of Property: Requirements for return of any property, documents, or materials related to the discharged agreement
7. Warranties: Confirmations from parties regarding their authority to enter into the deed and validity of the discharge
8. Governing Law and Jurisdiction: Specifies Malaysian law as governing law and jurisdiction for disputes
9. Execution: Formal execution blocks meeting requirements for a valid deed under Malaysian law
1. Payment Provisions: Include when the discharge involves final payments or settlement amounts
2. Confidentiality: Include when parties wish to keep the discharge and its terms confidential
3. Surviving Obligations: Include when certain obligations from the original agreement should survive the discharge
4. Tax Provisions: Include when there are specific tax implications or allocations to be addressed
5. Third Party Rights: Include when the discharge affects rights of third parties not direct parties to the deed
6. Further Assurance: Include when parties need to take additional actions to give effect to the discharge
7. Costs: Include when there's a need to allocate costs related to the preparation and execution of the deed
1. Schedule 1 - Original Agreement: Copy or details of the agreement being discharged
2. Schedule 2 - Outstanding Obligations: List of any outstanding obligations and how they are being settled
3. Schedule 3 - Release Documentation: Forms or notices required to effect the release
4. Schedule 4 - Property Schedule: List of any property or materials to be returned or transferred
5. Appendix A - Powers of Attorney: If relevant, copies of powers of attorney authorizing signatories
Authors
Banking and Finance
Real Estate
Construction
Manufacturing
Professional Services
Retail
Technology
Energy
Healthcare
Education
Transportation
Mining and Resources
Agriculture
Telecommunications
Legal
Compliance
Finance
Risk Management
Commercial Operations
Corporate Secretariat
Treasury
Business Development
Operations
Credit Control
Corporate Governance
Documentation
Legal Counsel
Contract Manager
Chief Legal Officer
Company Secretary
Risk Manager
Compliance Officer
Chief Financial Officer
Commercial Director
Business Development Manager
Project Manager
Operations Director
Treasury Manager
Credit Manager
Corporate Governance Officer
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