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Full Release Of All Claims With Indemnity Template for Canada

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Key Requirements PROMPT example:

Full Release Of All Claims With Indemnity

"I need a Full Release of All Claims with Indemnity agreement for a settlement between my technology company and a former supplier in Ontario, Canada, including confidentiality provisions and covering all subsidiaries, to be executed by March 2025."

Document background
The Full Release Of All Claims With Indemnity is a critical legal instrument used in Canadian jurisdictions to formally resolve disputes and provide comprehensive protection against future claims. This document is typically employed in situations where parties seek to achieve a complete and final settlement of all existing and potential future disputes, with one party agreeing to indemnify the other against related claims. It's commonly used in corporate settlements, employment terminations, personal injury resolutions, and commercial dispute settlements. The agreement must comply with both federal and provincial Canadian legal requirements, particularly regarding the enforceability of releases and indemnification provisions. It's essential for risk management and dispute resolution, offering protection against both known and unknown claims while providing indemnification security for the released party.
Suggested Sections

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

2. Background: Provides context about the dispute, relationship between parties, and circumstances leading to the release

3. Definitions: Defines key terms used in the agreement, including 'Claims', 'Released Parties', 'Effective Date', and 'Indemnified Matters'

4. Consideration: States the consideration being provided in exchange for the release and indemnity

5. Release: Comprehensive description of claims being released, including known and unknown claims

6. Indemnification: Details the indemnification obligations, including scope and procedures

7. Representations and Warranties: Statements by the releasing party regarding authority, ownership of claims, and understanding of the agreement

8. No Admission of Liability: Statement that the agreement does not constitute an admission of liability

9. Governing Law and Jurisdiction: Specifies applicable law and courts having jurisdiction

10. Entire Agreement: Confirms the agreement represents the complete understanding between parties

11. Severability: Addresses the impact of any provision being found invalid

12. Execution: Signature blocks and execution requirements

Optional Sections

1. Confidentiality: Required when parties wish to keep the existence or terms of the release confidential

2. Non-Disparagement: Include when parties agree not to make negative statements about each other

3. Return of Property: Needed when physical or intellectual property must be returned as part of the settlement

4. Tax Implications: Include when the settlement amount has significant tax consequences that need to be addressed

5. Future Cooperation: Required when ongoing cooperation between parties is necessary

6. Insurance Matters: Include when insurance policies or claims are involved

7. Related Parties: Needed when release extends to affiliated entities, family members, or other related parties

8. Survival: Include when certain provisions need to survive the execution of the release

Suggested Schedules

1. Schedule A - Released Claims: Detailed list of specific claims being released

2. Schedule B - Released Parties: Comprehensive list of all parties covered by the release

3. Schedule C - Settlement Payment Details: Payment terms, amounts, and methods if applicable

4. Schedule D - Excluded Claims: List of any claims specifically excluded from the release

5. Appendix 1 - Related Agreements: List of any related agreements affected by or referenced in the release

6. Appendix 2 - Required Notices: Forms or templates for any notices required under the agreement

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Risk Manager

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Chief Legal Officer

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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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