Settlement Release Agreement

Settlement Release Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

"I need a Settlement Release Agreement under UAE law to resolve a commercial dispute with my former business partner regarding shared intellectual property rights, with a settlement payment of AED 2.5 million to be paid by March 15, 2025."

Document background

A Settlement Release Agreement is a crucial document used when parties wish to formally resolve and conclude disputes in the UAE. This agreement type must comply with UAE Civil Code requirements and is commonly used across various sectors to document settlement terms, payment obligations, and comprehensive releases of claims. It serves as a final resolution mechanism, preventing future litigation on settled matters. The document typically includes detailed provisions on confidentiality, payment terms, releases, and waivers, all structured to be enforceable under UAE law. It's particularly important in commercial disputes, employment settlements, and corporate disagreements where parties seek a definitive conclusion to their disputes while ensuring compliance with local legal requirements.

Suggested Sections

1. Parties: Identification of all parties to the agreement, including full legal names and addresses

2. Background: Description of the dispute or claims being settled and the parties' desire to resolve them

3. Definitions: Definitions of key terms used in the agreement

4. Settlement Payment: Details of the settlement amount, payment terms, and method of payment

5. Release and Waiver: Comprehensive release of claims and waiver of rights by the parties

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

7. Confidentiality: Obligations to keep the settlement terms and related information confidential

8. Entire Agreement: Confirmation that this agreement represents the entire understanding between the parties

9. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for disputes

10. Execution: Signature blocks and execution requirements

Optional Sections

1. Regulatory Approvals: Required when the settlement needs specific regulatory clearances or approvals

2. Tax Provisions: Include when there are tax implications that need to be addressed

3. Non-Disparagement: When parties agree not to make negative statements about each other

4. Continuing Obligations: When certain obligations survive the settlement

5. Third Party Rights: When the settlement affects rights of parties not directly involved in the agreement

6. Return of Property: When physical or intellectual property needs to be returned or transferred

7. Implementation Steps: When specific actions are required to implement the settlement

Suggested Schedules

1. Schedule 1 - Disputed Matters: Detailed description of all claims and disputes being settled

2. Schedule 2 - Settlement Payment Details: Breakdown of settlement amounts, payment schedule, and bank details

3. Schedule 3 - Related Agreements: List of any related agreements affected by or referenced in the settlement

4. Schedule 4 - Release Documents: Forms of any additional release documents to be executed

5. Schedule 5 - Implementation Timeline: Timeline for implementing various aspects of the settlement

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

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 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

Clauses

Relevant Industries

Banking and Financial Services

Real Estate and Construction

Manufacturing and Industrial

Technology and Communications

Healthcare and Pharmaceuticals

Energy and Resources

Retail and Consumer Goods

Professional Services

Transportation and Logistics

Insurance

Government and Public Sector

Education

Relevant Teams

Legal

Compliance

Risk Management

Executive Leadership

Human Resources

Finance

Commercial Operations

Corporate Secretariat

Dispute Resolution

Contract Administration

Relevant Roles

Legal Director

General Counsel

Chief Legal Officer

Compliance Officer

Risk Manager

Chief Executive Officer

Chief Financial Officer

Corporate Secretary

Legal Manager

Settlement Officer

Dispute Resolution Manager

Human Resources Director

Commercial Director

Claims Manager

Contract Manager

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Authors

Alex Denne

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