Settlement Agreement No Further Claims Template for New Zealand

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Key Requirements PROMPT example:

Settlement Agreement No Further Claims

"I need a Settlement Agreement No Further Claims to resolve an intellectual property dispute between two technology companies, including specific provisions for the transfer of patent rights and a staged payment schedule completing by March 2025."

Document background

The Settlement Agreement No Further Claims is a crucial legal instrument used in New Zealand to definitively resolve disputes and prevent future litigation. It is commonly employed in various contexts, including employment disputes, commercial disagreements, and civil claims. This document type is particularly valuable when parties seek to achieve a complete and final resolution of their differences, incorporating specific provisions that comply with New Zealand law. The agreement typically includes detailed settlement terms, comprehensive releases, confidentiality provisions, and explicit statements preventing future claims related to the settled matter. It's essential for risk management and dispute resolution, providing certainty and finality for all parties involved. The document must comply with New Zealand legislation, including the Contract and Commercial Law Act 2017 and other relevant statutes, ensuring its enforceability and effectiveness.

Suggested Sections

1. Parties: Identifies and defines all parties to the agreement, including their legal capacity and contact details

2. Background: Outlines the context of the dispute or circumstances leading to the settlement

3. Definitions and Interpretation: Defines key terms used in the agreement and establishes rules for interpretation

4. Settlement Sum: Specifies the settlement amount, payment terms, and payment method

5. Release and Discharge: Comprehensive release of claims by all parties, specifically stating no further claims can be brought

6. No Admission of Liability: States that the settlement does not constitute an admission of liability by any party

7. Confidentiality: Details the confidentiality obligations regarding the settlement and its terms

8. Tax Treatment: Addresses the tax implications of the settlement payment

9. Entire Agreement: Confirms this agreement supersedes all previous agreements or understandings

10. Governing Law: Specifies New Zealand law as governing law and jurisdiction

11. Execution: Provisions for signing and dating the agreement

Optional Sections

1. Non-Disparagement: Mutual obligations not to make negative statements about other parties - used when reputation protection is important

2. Return of Property: Requirements for returning company property or documents - relevant in employment-related settlements

3. Ongoing Obligations: Any continuing obligations between the parties - used when there are surviving duties post-settlement

4. Reference Provision: Terms regarding future employment references - included in employment-related settlements

5. Medical Release: Specific release for medical claims - used when physical injury or health issues are involved

6. Intellectual Property Rights: Provisions regarding IP ownership and rights - relevant when IP is part of the disputed matter

7. Third Party Rights: Addresses rights of third parties affected by the settlement - used when third party interests are involved

8. Severability: Provision for partial invalidity - included when agreement complexity warrants it

Suggested Schedules

1. Schedule 1 - Payment Details: Detailed breakdown of settlement payments and payment schedule

2. Schedule 2 - Claims Being Settled: Comprehensive list of all claims being settled and released

3. Schedule 3 - Form of Release: Standard form of release to be signed by parties

4. Appendix A - Related Entities: List of related entities covered by the settlement

5. Appendix B - Agreed Communications: Any agreed public or internal statements regarding the settlement

6. Appendix C - Specific Obligations: Detailed list of any specific obligations or actions required under the settlement

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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