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General Release Of Claims Template for Malaysia

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Key Requirements PROMPT example:

General Release Of Claims

"I need a General Release of Claims agreement under Malaysian law for an amicable separation with a senior executive who will be leaving our technology company on March 15, 2025, including confidentiality and non-disparagement provisions, with a settlement payment of RM 250,000."

Document background
The General Release of Claims is a crucial risk management instrument in Malaysian business and legal practice, commonly utilized to achieve final reºìÐÓÖ±²¥ of disputes or potential claims between parties. It is particularly valuable in situations involving employment terminations, commercial dispute settlements, or the conclusion of business relationships. The document must comply with Malaysian legal requirements, including the Contracts Act 1950 and relevant employment legislation, while ensuring all statutory rights that cannot be waived are properly preserved. The agreement typically includes comprehensive releases of known and unknown claims, specific carve-outs for non-waivable rights, and clear consideration terms. It serves as a preventive measure against future litigation and provides certainty and closure for all involved parties.
Suggested Sections

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

2. Background: Provides context for the release, including relevant history of the relationship between parties and any disputes or claims that led to this release

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

4. Consideration: Specifies the consideration being provided in exchange for the release, as consideration is essential for validity under Malaysian contract law

5. Release and Discharge: The core section detailing the scope of claims being released, including present and future claims

6. Representations and Warranties: Statements by the releasing party about their authority to release claims and understanding of the agreement

7. Non-Admission of Liability: Statement that the agreement and consideration do not constitute admission of liability by any party

8. Governing Law and Jurisdiction: Specifies Malaysian law as governing law and establishes jurisdiction for disputes

9. Entire Agreement: Confirms this document represents the complete agreement between parties and supersedes prior agreements

10. Execution: Signature blocks and execution requirements including witness provisions

Optional Sections

1. Confidentiality: Required when parties wish to keep the existence, terms, or underlying disputes confidential

2. Return of Property: Used when there is company property or confidential information to be returned

3. Non-Disparagement: Include when parties wish to prevent negative statements about each other

4. Cooperation: Needed when ongoing cooperation is required for transition or administrative matters

5. Tax Indemnity: Include when the consideration has tax implications requiring clarification of responsibilities

6. Future Employment: Required in employment-related releases to address potential future employment relationships

7. Revocation Period: Include when giving the releasing party time to consider or revoke the agreement

8. Surviving Claims: Used when certain claims or rights need to be explicitly preserved

9. Foreign Law Compliance: Required when the release might have international implications

Suggested Schedules

1. Schedule of Released Claims: Detailed list of specific claims being released, particularly useful for complex disputes

2. Schedule of Consideration: Itemized list of consideration being provided, including payment terms and conditions

3. Schedule of Released Parties: Comprehensive list of all parties being released, including related entities and individuals

4. Schedule of Excluded Claims: List of specific claims explicitly excluded from the release

5. Schedule of Property: Inventory of property to be returned or transferred, if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ ºìÐÓÖ±²¥ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions

























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Relevant Industries

Financial Services

Manufacturing

Technology

Healthcare

Construction

Professional Services

Retail

Education

Real Estate

Energy

Telecommunications

Transportation and Logistics

Mining and Resources

Hospitality

Media and Entertainment

Relevant Teams

Legal

Human Resources

Executive Leadership

Risk Management

Compliance

Finance

Corporate Secretariat

Operations

Employee Relations

Administrative Services

Relevant Roles

Legal Counsel

Human Resources Director

Chief Executive Officer

Chief Financial Officer

Risk Manager

Compliance Officer

Human Resources Manager

Corporate Secretary

Operations Director

Department Manager

Settlement Officer

Claims Manager

Employee Relations Manager

Business Unit Head

General Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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