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General Liability Release Of Claims
"I need a General Liability Release of Claims for a corporate settlement between our technology company and a former supplier in Manila, with specific provisions for confidentiality and the return of intellectual property, to be executed by March 2025."
1. Parties: Identifies and defines all parties involved in the release, including the Releasor and Releasee, with their complete legal names and addresses
2. Background: Provides context for the release, including relevant history of the relationship between parties and general nature of claims being released
3. Definitions: Defines key terms used throughout the document, including 'Claims', 'Released Parties', 'Effective Date', and other relevant terms
4. Consideration: States the consideration being provided in exchange for the release, which is essential for contract validity under Philippine law
5. Release and Discharge: The core provision that details the claims being released and the scope of the release
6. No Admission of Liability: Statement that the release and any payments made do not constitute an admission of liability by the Releasee
7. Representations and Warranties: Statements by the Releasor regarding their authority to give the release and understanding of its implications
8. Governing Law: Specifies that Philippine law governs the agreement and interpretation thereof
9. Execution: Signature block and execution requirements, including space for witnesses and notarization as required under Philippine law
1. Confidentiality: Used when parties wish to keep the terms of the settlement and release confidential
2. Future Claims: Additional provisions addressing potential future claims, particularly relevant in personal injury cases
3. Return of Property: Required when there is physical property or documents that need to be returned as part of the settlement
4. Non-Disparagement: Include when parties wish to prevent negative statements about each other after the release
5. Cooperation: Used when ongoing cooperation between parties is required for implementing the release
6. Tax Implications: Include when the settlement involves significant monetary compensation with tax implications
7. Severability: Optional clause stating that if any provision is found invalid, the remainder of the agreement remains in effect
1. Schedule A - Description of Claims: Detailed list and description of all claims being released
2. Schedule B - Settlement Payment Details: If applicable, breakdown of any settlement payments and payment terms
3. Schedule C - Related Parties: List of additional parties covered by the release (subsidiaries, affiliates, etc.)
4. Appendix 1 - Supporting Documents: Copies of relevant documents referenced in the release
5. Appendix 2 - Proof of Authority: If applicable, documents showing authority to execute the release (board resolutions, powers of attorney, etc.)
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