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Release Of Liability Settlement Agreement for Philippines

Release Of Liability Settlement Agreement Template for Philippines

A comprehensive legal document governed by Philippine law that formalizes a settlement between parties and releases one party from liability for claims arising from a specific incident or circumstance. The agreement incorporates essential elements required under Philippine civil law, including clear identification of parties, settlement terms, release provisions, and execution requirements. It serves as a binding contract that resolves disputes and prevents future legal actions related to the settled matter, while ensuring compliance with local legal requirements and jurisprudence.

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Release Of Liability Settlement Agreement

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What is a Release Of Liability Settlement Agreement?

The Release Of Liability Settlement Agreement is a crucial legal instrument used in the Philippine jurisdiction when parties wish to resolve disputes or claims without proceeding to litigation or to settle existing legal proceedings. This document is commonly employed following incidents such as accidents, workplace injuries, property damage, or contractual disputes. It must comply with the Philippine Civil Code requirements for valid contracts and settlements, particularly Articles 2028-2037 governing compromise agreements. The document typically includes detailed settlement terms, comprehensive release provisions, payment arrangements, and confidentiality clauses. It's particularly valuable in situations where parties seek to achieve finality in their dispute resolution while maintaining legal compliance and protecting their interests.

What sections should be included in a Release Of Liability Settlement Agreement?

1. Parties: Identifies and defines all parties to the agreement, including their legal names, addresses, and any relevant corporate details

2. Background: Describes the context of the dispute or claim, including relevant dates and circumstances leading to the settlement

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Settlement Amount and Payment Terms: Specifies the agreed settlement amount, payment method, timeline, and any conditions attached to the payment

5. Release of Claims: Details the specific claims being released, including present and future claims related to the incident

6. No Admission of Liability: States that the settlement does not constitute an admission of liability by any party

7. Confidentiality: Outlines the confidentiality obligations regarding the settlement terms and related information

8. Full and Final Settlement: Confirms that this agreement represents a full and final settlement of all claims related to the matter

9. Governing Law and Jurisdiction: Specifies that Philippine law governs the agreement and establishes jurisdiction for any disputes

10. Execution: Contains signature blocks and execution requirements under Philippine law

What sections are optional to include in a Release Of Liability Settlement Agreement?

1. Tax Implications: Addresses responsibility for taxes arising from the settlement payment, used when settlement amounts are substantial

2. Non-Disparagement: Prohibits parties from making negative statements about each other, useful in high-profile or sensitive cases

3. Return of Property/Documents: Includes when there are physical items or documents to be returned as part of the settlement

4. Future Cooperation: Details any required future cooperation between parties, used when ongoing interactions may be necessary

5. Insurance Claims: Addresses the handling of any related insurance claims, relevant when insurance companies are involved

6. Modification of Agreement: Specifies conditions under which the agreement can be modified, used in complex settlements

7. Severability: Ensures remaining provisions stay valid if any part is found unenforceable, used in complex agreements

What schedules should be included in a Release Of Liability Settlement Agreement?

1. Schedule A - Settlement Payment Details: Detailed breakdown of settlement amounts and payment schedule

2. Schedule B - Released Claims: Comprehensive list of specific claims being released

3. Schedule C - Related Documents: List of any relevant documents, court cases, or prior agreements referenced

4. Appendix 1 - Incident Details: Detailed description of the incident or circumstances leading to the claim

5. Appendix 2 - Required Notifications: List of any required notifications or filings related to the settlement

Authors

Alex Denne

Head of Growth (Open Source Law) @ 抖阴短视频 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Philippines

Document Type

Release Agreement

Cost

Free to use
Relevant legal definitions




























Clauses


























Relevant Industries

Construction

Manufacturing

Healthcare

Transportation

Real Estate

Retail

Professional Services

Insurance

Education

Sports and Recreation

Entertainment

Hospitality

Relevant Teams

Legal

Risk Management

Compliance

Human Resources

Claims Processing

Corporate Affairs

Finance

Operations

Insurance

Executive Leadership

Relevant Roles

Legal Counsel

Risk Manager

Compliance Officer

Human Resources Director

Claims Manager

Corporate Secretary

Chief Legal Officer

Settlement Officer

Insurance Claims Adjuster

Operations Manager

Chief Financial Officer

Chief Executive Officer

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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