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1. Parties: Identifies all parties involved: the Releasor (person/entity giving the release), the Releasee (person/entity being released), and any other relevant third parties
2. Background: Provides context for the release, including relevant events, relationships, or circumstances leading to the need for the release
3. Definitions: Defines key terms used throughout the document to ensure clarity and prevent misinterpretation
4. Scope of Release: Clearly defines what claims, rights, or obligations are being released
5. Consideration: States the consideration (payment or other value) being provided in exchange for the release
6. Representations and Warranties: Statements by the releasor confirming their authority to give the release and understanding of its implications
7. Effective Date: Specifies when the release becomes effective
8. Governing Law: Establishes Nigerian law as the governing law for the agreement
9. Execution: Signature blocks and execution requirements for all parties
1. Confidentiality: Include when parties need to maintain confidentiality about the release or underlying circumstances
2. Indemnification: Include when one party needs to protect another against future claims related to the released matter
3. Dispute Resolution: Include when specific dispute resolution mechanisms (mediation/arbitration) are desired
4. Severability: Include when there's a need to ensure remaining provisions survive if some are found invalid
5. Future Claims: Include when specifically addressing potential future claims that may arise
6. Return of Property: Include when the release involves return or transfer of property or documents
7. Non-Admission of Liability: Include when the releasee wants to explicitly state that the release is not an admission of wrongdoing
1. Schedule A - Description of Released Claims: Detailed list of specific claims, incidents, or matters being released
2. Schedule B - Consideration Details: Detailed breakdown of any payment or consideration being provided
3. Schedule C - Property List: Itemized list of any property or assets involved in the release
4. Appendix 1 - Supporting Documents: Copies of relevant documents referenced in the release
5. Appendix 2 - Witness Statements: Any relevant witness statements or supporting affidavits if applicable
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