General Release Agreement Template for Hong Kong

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Key Requirements PROMPT example:

General Release Agreement

"I need a General Release Agreement under Hong Kong law to document the settlement of all claims between my technology company and a former supplier following a commercial dispute, with the release to be effective from March 1, 2025, and including specific provisions for the return of intellectual property."

Document background

The General Release Agreement is a critical legal instrument used in Hong Kong business and personal contexts to formally settle disputes and prevent future litigation. It is commonly employed following the resolution of conflicts, termination of business relationships, or settlement of claims, providing parties with a clean break and legal certainty. The document typically includes detailed provisions regarding the scope of claims being released, consideration provided, and various representations and warranties. Under Hong Kong law, special attention must be paid to the proper identification of released claims and parties, ensuring compliance with local ordinances such as the Control of Exemption Clauses Ordinance and the Limitation Ordinance. This agreement is particularly valuable in commercial disputes, employment separations, and corporate transactions where parties seek to minimize future legal exposure.

Suggested Sections

1. Parties: Identifies and defines all parties to the agreement, including the releasing party and the released party

2. Background: Sets out the context and circumstances leading to the release agreement

3. Definitions: Defines key terms used throughout the agreement, including 'Claims', 'Released Parties', and 'Effective Date'

4. Release and Discharge: Core section detailing the scope of claims being released and discharged

5. Consideration: Specifies the consideration being provided in exchange for the release

6. Representations and Warranties: Contains representations from both parties regarding their authority, understanding, and capacity to enter into the agreement

7. No Admission of Liability: States that the agreement and consideration do not constitute an admission of liability

8. Governing Law and Jurisdiction: Specifies Hong Kong law as governing law and Hong Kong courts' jurisdiction

9. Entire Agreement: Confirms that the agreement represents the entire understanding between the parties

10. Execution: Formal requirements for signing and dating the agreement

Optional Sections

1. Confidentiality: Include when parties wish to keep the existence and terms of the release confidential

2. Non-Disparagement: Include when parties agree not to make negative statements about each other

3. Return of Property: Include when there is physical or intellectual property to be returned

4. Future Cooperation: Include when ongoing cooperation between parties is required for certain matters

5. Tax Implications: Include when the release involves significant monetary consideration or tax-sensitive matters

6. Survival: Include when certain provisions need to survive the release

7. Claims Not Released: Include when specific claims are intentionally excluded from the release

8. Severability: Include when parties want to ensure partial invalidity doesn't void entire agreement

Suggested Schedules

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

2. Schedule 2 - Released Parties: Comprehensive list of all parties benefiting from the release

3. Schedule 3 - Consideration Details: Breakdown of consideration and payment terms if complex

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

5. Appendix B - Property Schedule: Inventory of any property to be returned or transferred

6. Appendix C - Form of Announcement: Template for any agreed public announcement regarding the release

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

Relevant legal definitions

Clauses

Relevant Industries

Financial Services

Professional Services

Manufacturing

Technology

Real Estate

Retail

Healthcare

Education

Construction

Energy

Transportation

Media and Entertainment

Telecommunications

Insurance

Hospitality

Relevant Teams

Legal

Human Resources

Executive Management

Risk Management

Compliance

Corporate Secretarial

Operations

Finance

Commercial

Dispute Resolution

Relevant Roles

Legal Counsel

General Counsel

HR Director

HR Manager

Chief Executive Officer

Chief Financial Officer

Risk Manager

Compliance Officer

Company Secretary

Managing Director

Business Unit Head

Operations Director

Settlement Officer

Dispute Resolution Manager

Commercial Director

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Authors

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