Business Release Form Template for Singapore

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Key Requirements PROMPT example:

Business Release Form

"I need a Business Release Form to discharge my software development company from all obligations and liabilities related to a terminated project with TechCorp Asia, including the release of intellectual property claims, to be effective from March 1, 2025."

Document background

The Business Release Form is a crucial document in Singapore's business landscape, used when companies need to formally discharge other parties from specific obligations, claims, or liabilities. It serves as a risk management tool, providing legal certainty in business transactions and dispute resolutions. The document must comply with Singapore's contract law requirements and typically includes detailed release provisions, consideration terms, and may incorporate confidentiality clauses. This form is particularly important in business settlements, transactions, or when concluding business relationships.

Suggested Sections

1. Parties: Identification of the releasing and released parties, including their legal status and registered addresses

2. Background: Context and circumstances leading to the release, including relevant business relationship history

3. Definitions: Key terms and expressions used throughout the release form

4. Release Terms: Specific rights, claims, and liabilities being released, including scope and extent of the release

5. Consideration: Details of the value or consideration being provided in exchange for the release

6. Representations and Warranties: Statements of fact and assurances made by the parties

7. Execution: Signature blocks, witnessing requirements, and execution formalities

Optional Sections

1. Confidentiality: Terms regarding the treatment of confidential information and trade secrets

2. Non-disparagement: Provisions preventing parties from making negative statements about each other

3. Dispute Resolution: Procedures for resolving any future disputes, including jurisdiction and governing law

4. Survival Clause: Provisions that continue to remain effective after the release

Suggested Schedules

1. Schedule 1 - Released Claims: Detailed itemization of specific claims, rights, and causes of action being released

2. Schedule 2 - Released Parties: Comprehensive list of all parties covered by the release, including affiliated entities

3. Schedule 3 - Assets: List of specific assets, properties, or rights involved in the release (if applicable)

4. Schedule 4 - Excluded Claims: List of claims or rights specifically excluded from the release (if any)

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

Agreement
Released Party
Releasing Party
Affiliates
Claims
Effective Date
Release Period
Confidential Information
Business Day
Losses
Released Claims
Released Matters
Representatives
Consideration
Dispute

Clauses

Release and Discharge
Consideration
Indemnification
Confidentiality
Non-Disparagement
Warranties and Representations
Entire Agreement
Governing Law
Dispute Resolution
Severability
Further Assurance
Assignment
No Admission of Liability
Waiver
Notices

Relevant Industries

Technology
Financial Services
Manufacturing
Professional Services
Real Estate

Relevant Teams

Legal
Compliance
Finance
Corporate Affairs
Risk Management

Relevant Roles

Chief Executive Officer
Chief Legal Officer
Contract Manager
Risk Manager
Business Development Director

How a Sales & Marketing Lead uses Genie AI to reduce contract drafting time by 95%

Let's create your Business Release Form

Authors

Alex Denne

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