Mutual Release Form

Mutual Release Form Template for Saudi Arabia

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Key Requirements PROMPT example:

"I need a Mutual Release Form under Saudi law to document the termination of employment and mutual release of claims between my company and a senior executive who will be leaving on March 15, 2025, including confidentiality and non-disparagement provisions."

Document background

The Mutual Release Form is a critical legal instrument used in Saudi Arabia when parties wish to formally resolve disputes, settle claims, or terminate ongoing obligations. This document is particularly valuable in situations where parties seek to achieve a clean break and prevent future litigation. The agreement must comply with Saudi Arabian law, including both civil law requirements and Sharia principles, making it distinct from release agreements in other jurisdictions. It typically includes comprehensive details about the claims being released, any consideration exchanged, and specific warranties about the parties' authority to enter into such an agreement. The Mutual Release Form is commonly used in various contexts, including business disputes, employment terminations, partnership dis��ֱ��s, and settlement of commercial disagreements, providing a legally binding mechanism to document the parties' agreement to release each other from specified claims or obligations.

Suggested Sections

1. Parties: Identification of all parties to the release agreement, including full legal names, addresses, and any relevant registration numbers

2. Background: Context of the relationship between the parties and brief description of the disputes, claims, or circumstances leading to the release

3. Definitions: Definitions of key terms used throughout the agreement, including 'Claims', 'Effective Date', and other relevant terms

4. Mutual Releases: Core provisions where each party releases the other from claims, liabilities, and obligations

5. Consideration: Statement of the consideration being exchanged for the releases, as required for validity under Saudi law

6. Representations and Warranties: Statements by each party regarding their authority to enter into the agreement and the absence of assigned claims

7. Sharia Compliance: Express confirmation that the agreement complies with Sharia principles

8. Governing Law and Jurisdiction: Specification of Saudi law as governing law and designation of competent Saudi courts

9. Execution: Signature blocks and execution requirements compliant with Saudi law

Optional Sections

1. Confidentiality: Provisions regarding confidentiality of the agreement and its terms, used when parties wish to maintain privacy

2. Non-Disparagement: Mutual agreements not to make negative statements about each other, included when reputational concerns exist

3. Surviving Claims: Specification of any claims that are not being released, used when certain matters are to be excluded from the release

4. Return of Property: Provisions regarding the return of any property or documents, relevant when physical items need to be exchanged

5. Future Cooperation: Terms regarding future cooperation between parties, useful in business or employment contexts

6. Tax Matters: Provisions addressing tax implications of the release, included when settlement payments are involved

Suggested Schedules

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

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

3. Schedule of Settlement Payments: Details of any financial settlements, payment terms, and conditions

4. Schedule of Returned Items: Inventory of any property or documents to be returned between parties

5. Powers of Attorney: Copies of powers of attorney or other authorization documents if parties are acting through representatives

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��ֱ�� | 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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Executive Leadership

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Legal Counsel

General Counsel

Corporate Lawyer

Compliance Officer

Risk Manager

Human Resources Director

Chief Executive Officer

Chief Financial Officer

Contract Manager

Business Development Manager

Company Secretary

Operations Director

Project Manager

Settlement Officer

Dispute Re��ֱ�� Specialist

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Authors

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