Release And Waiver Of Claims Agreement Template for New Zealand

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Key Requirements PROMPT example:

Release And Waiver Of Claims Agreement

"I need a Release and Waiver of Claims Agreement for my technology company based in Auckland, covering the departure of a senior software developer who is leaving on March 15, 2025, including confidentiality provisions and the return of company property."

Document background

The Release And Waiver of Claims Agreement is a crucial legal instrument in New Zealand's commercial and civil landscape, designed to formally document the settlement of disputes and release of legal claims between parties. This document is commonly used in various scenarios including employment terminations, accident settlements, commercial dispute resolutions, and general liability releases. It must be drafted in compliance with New Zealand's legal framework, particularly the Contract and Commercial Law Act 2017, Fair Trading Act 1986, and relevant common law principles. The agreement serves to prevent future litigation by clearly documenting the terms of release, the consideration provided, and the scope of claims being waived. It's particularly important in situations where parties wish to achieve final closure on a matter and establish a legally binding agreement that prevents future claims related to the specified incidents or circumstances.

Suggested Sections

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

2. Background: Explains the context and circumstances leading to the release, including any relevant history or disputes

3. Definitions: Defines key terms used throughout the agreement, including 'Claims', 'Released Matters', and other relevant terminology

4. Release and Waiver: Core section detailing the specific claims being released and waived, including the scope and extent of the release

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

6. Representations and Warranties: States the representations and warranties made by the releasing party regarding their authority and understanding of the release

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

8. Binding Effect: Confirms the binding nature of the agreement on parties, heirs, successors, and assigns

9. Governing Law: Specifies that New Zealand law governs the agreement and details jurisdiction for disputes

10. Execution: Formal signing section including date and witness requirements

Optional Sections

1. Confidentiality: Include when parties wish to keep the existence, terms, or subject matter of the release confidential

2. Future Claims: Include when specifically addressing the treatment of potential future claims that have not yet arisen

3. Return of Property: Include when there is physical or intellectual property that needs to be returned as part of the agreement

4. Non-Disparagement: Include when parties wish to prevent negative statements about each other after the release

5. Severability: Include when parties want to ensure that if any provision is found invalid, the rest of the agreement remains effective

6. Third Party Rights: Include when the release affects or benefits third parties not directly signing the agreement

7. Independent Legal Advice: Include when documenting that parties had the opportunity to seek independent legal advice

8. Dispute Resolution: Include when parties want to specify a particular method for resolving future disputes about the agreement

Suggested Schedules

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

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

3. Schedule 3 - Related Parties: List of affiliated entities or individuals covered by the release

4. Appendix A - Supporting Documents: Copies of relevant supporting documents referenced in the main agreement

5. Appendix B - Payment Terms: Details of any payment or consideration structure if complex or involving multiple payments

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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