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Release And Settlement Of Claim

Release And Settlement Of Claim Template for United Arab Emirates

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Key Requirements PROMPT example:

Release And Settlement Of Claim

"I need a Release and Settlement of Claim agreement for a construction dispute between our company and three subcontractors in Dubai, with a settlement amount of AED 5 million to be paid in installments starting March 2025, including specific releases for future claims related to the project delays."

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Document background
The Release and Settlement of Claim agreement is a crucial document in UAE business and legal practice, used to formally conclude disputes and prevent future litigation. It is particularly relevant in the UAE's dynamic business environment where commercial, construction, and employment disputes are common. The document must be structured to comply with UAE Civil Code requirements and local commercial practices, often requiring certification by UAE authorities for court enforcement. This agreement type is essential when parties wish to resolve existing claims without court intervention, providing a clear framework for settlement terms, payment obligations, and mutual releases. It's commonly used in both private sector disputes and government-related matters, requiring careful consideration of UAE public policy and legal principles.
Suggested Sections

1. Parties: Identification of all parties involved in the settlement, including their full legal names, addresses, and registration details if companies

2. Background: Description of the dispute or claim, including relevant dates, circumstances, and any prior legal proceedings

3. Definitions: Key terms used throughout the agreement, including 'Claim', 'Settlement Sum', 'Effective Date', and other relevant definitions

4. Settlement Terms: Detailed description of the settlement amount, payment terms, timing, and method of payment

5. Release and Waiver: Comprehensive release of claims and waiver of rights related to the dispute

6. Confidentiality: Obligations regarding confidentiality of the settlement terms and dispute details

7. Full and Final Settlement: Confirmation that this settlement represents a full and final resolution of all claims

8. Representations and Warranties: Statements by both parties regarding their authority to enter into the agreement and other key assurances

9. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction of UAE courts

10. Execution: Signature blocks and execution requirements

Optional Sections

1. Non-Admission of Liability: Statement that the settlement does not constitute admission of liability by any party - used when explicitly requested by the settling party

2. Tax Implications: Addressing responsibility for any tax consequences of the settlement - relevant when settlement involves significant sums or cross-border elements

3. Non-Disparagement: Mutual agreements not to make negative statements about other parties - important in high-profile or sensitive cases

4. Return of Documents: Provisions for returning confidential documents or materials - relevant when sensitive information was exchanged

5. Future Cooperation: Requirements for future cooperation between parties - used when ongoing relationship or transition is necessary

6. Insurance and Indemnification: Provisions related to insurance claims and indemnification - relevant when insurance companies are involved

7. Costs: Allocation of legal costs and expenses - optional when parties bear their own costs

Suggested Schedules

1. Schedule 1 - Claim Details: Detailed description of the original claim or dispute being settled

2. Schedule 2 - Payment Schedule: Detailed payment terms and installment schedule if applicable

3. Schedule 3 - Released Claims: Comprehensive list of all claims being released through the settlement

4. Schedule 4 - Required Actions: List of specific actions required by each party to implement the settlement

5. Appendix A - Related Documents: Copies or references to relevant correspondence, court documents, or other material documents

6. Appendix B - Form of Release: Template for any additional release documents required to be executed

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Claim
Confidential Information
Dispute
Effective Date
Encumbrance
Liability
Loss
Original Agreement
Parties
Payment Date
Related Entities
Released Claims
Released Parties
Releasing Parties
Settlement Amount
Settlement Payment
Settlement Period
Subject Matter
Underlying Dispute
Working Day
Affiliate
Business Day
Claim Documents
Completion
Costs
Governing Law
Interest
Legal Proceedings
Material Breach
Outstanding Amount
Payment Terms
Related Rights
Representatives
Surviving Provisions
Relevant Industries

Construction and Real Estate

Banking and Financial Services

Insurance

Manufacturing

Healthcare

Retail and Consumer Goods

Technology and Communications

Energy and Utilities

Transportation and Logistics

Professional Services

Relevant Teams

Legal

Compliance

Risk Management

Finance

Corporate Governance

Executive Leadership

Claims Management

Contract Administration

Business Development

Corporate Affairs

Relevant Roles

Legal Director

General Counsel

Chief Legal Officer

Claims Manager

Risk Manager

Compliance Officer

Chief Executive Officer

Chief Financial Officer

Contract Manager

Dispute Resolution Manager

Legal Counsel

Company Secretary

Settlement Officer

Corporate Governance Director

Business Development Director

Industries
UAE Civil Code (Federal Law No. 5 of 1985): Provides the fundamental principles of contract formation, validity, and enforcement. Articles 722-733 specifically deal with settlements (sulh) and their legal effects.
UAE Commercial Transactions Law (Federal Law No. 18 of 1993): Relevant for settlements involving commercial disputes or business-related claims, particularly regarding payment terms and commercial obligations.
UAE Civil Procedure Law (Federal Law No. 11 of 1992): Governs the procedural aspects of settlements, their registration with courts, and enforcement mechanisms.
UAE Federal Arbitration Law (Federal Law No. 6 of 2018): Important for dispute resolution provisions within settlement agreements and recognition of settlements reached through arbitration.
UAE Evidence Law (Federal Law No. 10 of 1992): Relevant for establishing the evidentiary value of settlement agreements and required documentation.
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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