Release Of Claims Settlement Agreement Template for England and Wales

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Key Requirements PROMPT example:

Release Of Claims Settlement Agreement

"I need a Release Of Claims Settlement Agreement to resolve an ongoing contractual dispute with a former supplier, including a settlement payment of £50,000 and mutual confidentiality obligations, to be executed by March 2025."

Document background

A Release Of Claims Settlement Agreement is utilized when parties wish to resolve existing or potential legal disputes without proceeding to formal litigation or to settle ongoing litigation. This document, governed by English and Welsh law, provides a comprehensive framework for dispute resolution, including specific terms of settlement, scope of claims being released, payment arrangements, and any ongoing obligations of the parties. It offers finality and certainty to all parties involved, while including necessary protections such as confidentiality provisions and non-disparagement clauses where appropriate.

Suggested Sections

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

2. Background: Context of the dispute, circumstances leading to settlement, and reason for the agreement

3. Definitions: Key terms used throughout the agreement, including defined terms for Claims, Settlement Sum, and Effective Date

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

5. Release of Claims: Comprehensive description of claims being released, including present and future claims

6. Confidentiality: Terms regarding confidentiality of the settlement agreement and its terms

7. Execution: Signature blocks, execution provisions, and effective date of the agreement

Optional Sections

1. Non-disparagement: Optional clause preventing parties from making negative statements about each other

2. Tax Indemnity: Optional clause addressing tax implications and responsibilities

3. Return of Property: Optional section dealing with return of any physical or intellectual property

4. Future Cooperation: Optional provisions regarding ongoing cooperation between parties

5. References: Optional section for employment-related settlements specifying reference terms

Suggested Schedules

1. Schedule of Claims: Detailed enumeration of all claims being released under the agreement

2. Payment Schedule: Schedule detailing payment installments and terms if applicable

3. Form of Reference: Template or agreed wording for employment references if applicable

4. List of Company Property: Detailed inventory of items to be returned or transferred between parties

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

alex.den.21@genieai.co

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Common Law Contract Principles: Fundamental principles of contract formation under English common law, including offer, acceptance, consideration, and intention to create legal relations

Contracts (Rights of Third Parties) Act 1999: Legislation governing how third parties may enforce terms of a contract, relevant for ensuring the settlement agreement properly binds or excludes third parties

Limitation Act 1980: Statute setting out time limits for bringing different types of legal claims, crucial for understanding which claims can be validly settled

Employment Rights Act 1996: Key employment legislation including Section 203 which sets out requirements for valid settlement agreements in employment contexts

Equality Act 2010: Legislation protecting against discrimination, must be considered when settling claims involving potential discrimination issues

Employment Tribunals Act 1996: Legislation governing employment tribunal proceedings and settlements of tribunal claims

Trade Union and Labour Relations (Consolidation) Act 1992: Legislation covering collective labor law and relevant for settlements involving union members or collective disputes

ACAS Code of Practice on Settlement Agreements: Practical guidance on settlement agreements in employment context, including best practices and procedural requirements

Civil Procedure Rules Part 36: Rules governing formal offers to settle civil claims and their consequences

Misrepresentation Act 1967: Law governing false statements made during contract formation, relevant for ensuring validity of settlement

Unfair Contract Terms Act 1977: Legislation controlling unfair terms in contracts, including limitations on excluding liability

UK GDPR and Data Protection Act 2018: Data protection legislation relevant for handling personal information in settlement agreements

Income Tax (Earnings and Pensions) Act 2003: Tax legislation relevant for understanding tax treatment of settlement payments

Taxes Management Act 1970: Framework for tax administration, relevant for tax aspects of settlement payments

Personal Injury Pre-Action Protocol: Procedural rules for personal injury claims, relevant if settlement involves personal injury elements

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Authors

Alex Denne

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