The Full Release Form is a crucial legal instrument in Philippine business and civil practice, commonly used to formally conclude disputes, settlements, or business relationships. This document, governed by Philippine civil law, particularly the Civil Code of the Philippines (Republic Act No. 386), provides a comprehensive release of claims, whether known or unknown, that one party may have against another. It's typically employed following settlements, employment terminations, business dissolutions, or resolution of disputes. The document must be carefully drafted to ensure it covers all intended claims while complying with Philippine legal requirements regarding form, content, and execution. The Full Release Form often includes specific consideration details, representations about the understanding of rights being waived, and may require notarization for enhanced enforceability.
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1. Parties: Identification of the Releasor and Releasee, including their full legal names, addresses, and any relevant corporate details
2. Background: Context of the relationship between the parties and the circumstances leading to the release
3. Definitions: Definitions of key terms used in the release, including 'Claims', 'Released Matters', and any other relevant terms
4. Consideration: Details of the consideration being provided in exchange for the release
5. Release: The core release language, comprehensively describing what claims and rights are being released
6. Representations and Warranties: Statements by the Releasor regarding their authority to give the release and understanding of its implications
7. Governing Law: Specification that Philippine law governs the release
8. Execution: Signature blocks and execution formalities including notarization requirements
1. Confidentiality: Terms regarding confidentiality of the release and its terms, used when parties want to keep the settlement private
2. Non-Disparagement: Provisions preventing parties from making negative statements about each other, used in sensitive situations
3. Continuing Obligations: Any obligations that survive the release, used when certain responsibilities should continue
4. Return of Property: Provisions regarding return of any property or documents, used when physical items need to be returned
5. No Admission of Liability: Statement that the release does not constitute admission of wrongdoing, used in disputed matters
6. Future Cooperation: Terms regarding future cooperation between parties, used when ongoing interaction may be needed
7. Tax Implications: Provisions addressing tax consequences of any payment, used when significant monetary consideration is involved
1. Schedule A - Released Claims: Detailed list of specific claims, incidents, or matters being released
2. Schedule B - Consideration Details: Detailed breakdown of any monetary or non-monetary consideration
3. Schedule C - Related Entities: List of affiliated entities covered by the release
4. Appendix 1 - Supporting Documents: Copies of relevant documents referenced in the release
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