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Mutual Release Agreement Template for Saudi Arabia

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Key Requirements PROMPT example:

Mutual Release Agreement

"I need a Mutual Release Agreement between my technology company and a former contractor in Saudi Arabia, releasing both parties from all claims related to a software development project that will be terminated on March 15, 2025, with specific provisions for the return of intellectual property."

Document background
The Mutual Release Agreement is a crucial legal instrument used in Saudi Arabia when parties wish to formally conclude their business relationship or resolve existing disputes while preventing future claims. This document is particularly valuable in situations involving commercial disputes, employment terminations, partnership dissolutions, or settlement of claims. The agreement must be carefully structured to comply with Saudi Arabian law and Sharia principles, which govern all commercial and civil transactions in the Kingdom. It typically includes comprehensive releases of claims, specific considerations (which are essential for validity under Saudi law), and detailed provisions regarding the scope of the release. The document is commonly used in both commercial and individual contexts, requiring careful attention to local legal requirements and cultural considerations.
Suggested Sections

1. Parties: Identification of all parties to the agreement, including full legal names, addresses, and registration details if applicable

2. Background: Context of the relationship between the parties and the circumstances leading to the mutual release

3. Definitions: Definitions of key terms used throughout the agreement

4. Mutual Release: Core provisions detailing the mutual releases, including scope and extent of claims being released

5. Consideration: Statement of consideration being exchanged for the releases, as required for contract validity under Saudi law

6. Representations and Warranties: Statements by each party regarding their authority to enter into the agreement and other key declarations

7. Confidentiality: Provisions regarding confidentiality of the agreement and its terms

8. Governing Law and Jurisdiction: Specification of Saudi law as governing law and jurisdiction for disputes

9. Entire Agreement: Confirmation that this document represents the complete agreement between the parties

10. Execution: Signature blocks and execution requirements compliant with Saudi law

Optional Sections

1. Non-Disparagement: Mutual agreements not to make negative statements about each other, used when reputation protection is important

2. Return of Property: Provisions for returning any physical or intellectual property, used when there are assets to be exchanged

3. Future Cooperation: Terms regarding any necessary future cooperation between parties, used when ongoing limited interaction is required

4. Insurance Claims: Specific provisions about insurance claims and rights, used when insurance matters are involved

5. Tax Matters: Provisions dealing with tax implications, used when the release involves significant financial considerations

6. Sharia Compliance Declaration: Specific declaration of Sharia compliance, used when parties require explicit confirmation of religious law compliance

Suggested Schedules

1. Schedule of Released Claims: Detailed list of specific claims, disputes, or matters being released

2. Schedule of Excluded Claims: List of any claims or rights specifically excluded from the release

3. Payment Schedule: Details of any payments to be made as part of the release agreement

4. Related Agreements: List of any related agreements affected by or referenced in the release

5. Corporate Authorizations: Copies of corporate authorizations or powers of attorney where applicable

Authors

Alex Denne

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

Relevant legal definitions

























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Relevant Industries

Banking & Finance

Real Estate & Construction

Manufacturing

Oil & Gas

Technology

Healthcare

Professional Services

Retail & Consumer Goods

Telecommunications

Education

Transportation & Logistics

Government & Public Sector

Relevant Teams

Legal

Human Resources

Compliance

Risk Management

Executive Leadership

Finance

Operations

Corporate Affairs

Business Development

Administrative

Relevant Roles

Legal Counsel

Corporate Lawyer

HR Director

Chief Legal Officer

Compliance Officer

Risk Manager

Business Development Manager

Contract Manager

Chief Executive Officer

Chief Financial Officer

HR Manager

Operations Director

Company Secretary

Settlement Officer

Dispute Resolution Specialist

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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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