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Unconditional Final Release
"I need an Unconditional Final Release for my construction company (Lagos Builder Ltd) to settle all outstanding claims with our subcontractor (Express Works Nigeria) relating to the Victoria Island Development Project, with a settlement amount of ₦50 million to be paid by March 15, 2025."
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 relationship between parties and circumstances leading to the release
3. Definitions: Key terms used in the release, including 'Claims', 'Effective Date', and any specific terms relevant to the release
4. Consideration: Statement of the consideration being provided in exchange for the release
5. Release: Core provision detailing the unconditional and final release of all claims
6. No Admission of Liability: Statement that the release does not constitute an admission of liability by any party
7. Binding Effect: Clause establishing the binding nature of the release on parties' heirs, successors, and assigns
8. Governing Law: Specification that Nigerian law governs the release
9. Execution: Formal execution block including signature lines, witness provisions, and date
1. Confidentiality: Optional clause when parties wish to keep the terms of the release confidential
2. Specific Exclusions: Used when certain claims or rights need to be specifically excluded from the scope of the release
3. Return of Property: Include when there is physical or intellectual property to be returned between parties
4. Non-Disparagement: Optional clause preventing parties from making negative statements about each other
5. Severability: Include when document complexity warrants protection of remaining provisions if some are found invalid
6. Future Cooperation: Used when parties need to specify any ongoing obligations or cooperation requirements
1. Schedule A - Released Claims: Detailed list of specific claims, disputes, or matters being released
2. Schedule B - Payment Details: If consideration involves payment, details of payment terms and methods
3. Schedule C - Related Parties: List of affiliated entities or individuals covered by the release
4. Appendix 1 - Supporting Documents: References to any relevant agreements, court cases, or other documents pertinent to the release
Authors
Construction
Oil and Gas
Manufacturing
Financial Services
Insurance
Real Estate
Healthcare
Mining
Transportation
Technology
Telecommunications
Professional Services
Agriculture
Maritime
Legal
Finance
Risk Management
Compliance
Operations
Project Management
Corporate Secretariat
Business Development
Executive Leadership
Dispute Resolution
Chief Executive Officer
Managing Director
Legal Counsel
Contract Manager
Risk Manager
Chief Financial Officer
Project Manager
Claims Manager
Compliance Officer
Settlement Officer
Business Development Manager
Operations Director
Company Secretary
General Counsel
Finance Director
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