Limited Release Settlement Agreement Generator for England and Wales

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Key Requirements PROMPT example:

Limited Release Settlement Agreement

"I need a Limited Release Settlement Agreement to resolve a contractual dispute with our software supplier regarding a failed implementation project, while preserving our rights to pursue separate claims relating to ongoing maintenance services, with settlement payment of £150,000 to be made by March 2025."

Document background
The Limited Release Settlement Agreement is utilized when parties wish to resolve particular disputes while maintaining their rights regarding other matters. This document, governed by English and Welsh law, provides a structured framework for settling specific claims while explicitly preserving others. It typically includes detailed definitions of released claims, settlement terms, confidentiality provisions, and specific carve-outs for preserved claims. This type of agreement is particularly valuable in complex commercial relationships where a complete settlement of all potential claims would be inappropriate or premature.
Suggested Sections

1. Parties: Identification and details of all parties to the agreement

2. Background: Context of the dispute and reason for settlement

3. Definitions: Key terms used throughout the agreement

4. Settlement Terms: Core settlement provisions including payment terms and timing

5. Release Provisions: Specific claims being released and extent of release

6. Confidentiality: Terms regarding confidentiality of settlement and dispute

7. Governing Law: Specification of applicable law and jurisdiction

Optional Sections

1. Non-disparagement: Mutual agreements not to make negative statements about the other party - used when reputation management is important

2. Tax Provisions: Treatment of settlement payments for tax purposes - used when settlement involves significant monetary compensation

3. Future Cooperation: Terms for ongoing relationship or obligations - used when parties need to maintain business relationship

Suggested Schedules

1. Schedule of Released Claims: Detailed list of specific claims being released

2. Payment Schedule: Breakdown of settlement payments and timing - used for staged payments

3. Related Agreements: List of other agreements affected by settlement - used when settlement impacts multiple contracts

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

Relevant Industries
Relevant Teams
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Industries

Contract Law Fundamentals: Common law principles of contract and the Contracts (Rights of Third Parties) Act 1999 which govern basic contract formation, interpretation, and third-party rights

Civil Procedure Rules - Part 36: Rules governing settlement offers and their procedural implications in civil litigation in England and Wales

Limitation Act 1980: Statute setting out time limits within which different types of legal claims must be brought

Employment Rights Act 1996: Primary legislation governing employment rights and obligations, relevant if the settlement involves employment matters

Equality Act 2010: Legislation protecting against discrimination and promoting equality, particularly relevant in employment-related settlements

Trade Union and Labour Relations (Consolidation) Act 1992: Legislation governing collective labor rights and trade union matters in settlement contexts

Income Tax Act 2007: Tax legislation relevant to the treatment of settlement payments and financial considerations

UK GDPR and Data Protection Act 2018: Data protection legislation governing the handling of personal data in settlement agreements

Arbitration Act 1996: Legislation governing alternative dispute resolution procedures that might be incorporated into settlement agreements

Consumer Rights Act 2015: Relevant if the settlement involves consumer matters, ensuring fair terms and protecting consumer rights

Financial Services and Markets Act 2000: Regulatory framework for financial services, relevant if settlement involves regulated financial matters

SRA Code of Conduct: Professional requirements for solicitors handling settlement agreements, ensuring ethical compliance

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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