The Third Party Release Form is a crucial legal instrument in Philippine business and personal transactions where one party needs to release another party and specified third parties from potential claims or liabilities. This document is commonly used in situations involving multiple stakeholders, such as corporate transactions, media productions, event participation, or settlement of disputes. It must comply with Philippine law, particularly the Civil Code of the Philippines (Republic Act No. 386) and, when personal data is involved, the Data Privacy Act of 2012 (Republic Act No. 10173). The form typically includes comprehensive details about the parties involved, the scope of the release, any consideration provided, and necessary representations and warranties. It may require notarization depending on the nature and value of the rights being released.
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1. Parties: Identifies all parties involved: the Releasor (person giving the release), the Releasee (person being released), and any relevant Third Parties
2. Background: Explains the context and circumstances leading to the need for the release
3. Definitions: Defines key terms used throughout the document for clarity and legal certainty
4. Scope of Release: Clearly outlines what rights, claims, or liabilities are being released or waived
5. Consideration: States the consideration (if any) being provided in exchange for the release
6. Representations and Warranties: Statements by the Releasor confirming their authority and capacity to grant the release
7. Acknowledgment: Confirmation that the Releasor understands the implications of the release
8. Governing Law: Specifies that Philippine law governs the agreement
9. Execution: Signature blocks and execution requirements
1. Data Privacy Consent: Required when the release involves collection or processing of personal information under the Data Privacy Act
2. Media Rights: Include when the release covers use of images, videos, or other media content
3. Intellectual Property: Necessary when the release involves IP rights or creative works
4. Indemnification: Optional clause where the Releasor agrees to indemnify the Releasee against future claims
5. Severability: Optional clause stating that if any provision is invalid, others remain enforceable
6. Duration of Release: Include when the release is time-bound rather than perpetual
7. Confidentiality: Add when the circumstances of the release need to remain confidential
1. Description of Released Claims: Detailed list of specific claims, rights, or matters being released
2. Specific Assets or Properties: If the release relates to specific assets, detailed description of such assets
3. Related Agreements: List of any related agreements or documents referenced in the release
4. Consent Forms: Additional consent forms required under Philippine law, particularly for data privacy
5. Evidence of Authority: Documents proving authority to execute the release (e.g., board resolutions, powers of attorney)
Relevant legal definitions
Clauses
Relevant Industries
Media and Entertainment
Healthcare
Construction
Real Estate
Manufacturing
Financial Services
Technology
Education
Sports and Recreation
Professional Services
Retail
Tourism and Hospitality
Relevant Teams
Legal
Compliance
Risk Management
Human Resources
Operations
Project Management
Corporate Communications
Public Relations
Business Development
Administrative Services
Insurance
Corporate Governance
Relevant Roles
Legal Counsel
Corporate Secretary
Risk Manager
Compliance Officer
Human Resources Director
Project Manager
Event Coordinator
Production Manager
Business Development Manager
Operations Director
Contract Administrator
Media Relations Manager
Property Manager
Insurance Manager
Corporate Communications Director
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