Contract Release Form

Contract Release Form Template for New Zealand

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Key Requirements PROMPT example:

"I need a Contract Release Form for terminating a software development agreement with TechSolutions Ltd, effective March 1, 2025, with a mutual release of all claims and a confidentiality clause regarding project details."

Document background

The Contract Release Form is a critical legal instrument used in New Zealand business and personal contexts to formally terminate contractual obligations and provide legal certainty to all parties involved. This document is essential when parties wish to end their contractual relationship, settle disputes, or release claims arising from previous agreements. It must comply with New Zealand contract law, particularly the Contract and Commercial Law Act 2017, and can be used in various situations such as employment separations, business contract terminations, or settlement of disputes. The form typically includes comprehensive details about the original contract, specific terms being released, any consideration provided, and mutual agreements between parties. It serves as a protective measure against future claims and provides clear documentation of the parties' intention to end their contractual obligations.

Suggested Sections

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

2. Background: Context of the original contract, relationship between parties, and circumstances leading to the release

3. Definitions: Definitions of key terms used in the release form

4. Release Terms: Specific details of what claims, rights, or obligations are being released

5. Consideration: Details of any payment or value exchanged for the release

6. Acknowledgments: Statements confirming parties understand their rights and have received independent legal advice if applicable

7. General Provisions: Standard legal provisions including governing law, entire agreement, and severability

8. Execution: Signature blocks and execution requirements

Optional Sections

1. Confidentiality: Terms regarding confidentiality of the release and original contract - include when sensitive information is involved

2. Surviving Obligations: List of any obligations that survive the release - include when certain contract terms should remain in effect

3. Non-Disparagement: Provisions preventing parties from making negative statements - include in employment or sensitive commercial contexts

4. Return of Property: Requirements for returning any property or documents - include when physical or intellectual property is involved

5. Tax Implications: Statement about tax responsibilities - include when the release involves significant monetary consideration

6. Dispute Resolution: Specific dispute resolution procedures - include for complex releases or high-value matters

Suggested Schedules

1. Schedule 1 - Original Contract: Copy or details of the original contract being released

2. Schedule 2 - Released Claims: Detailed list of specific claims or rights being released

3. Schedule 3 - Payment Terms: Details of any payment arrangements or consideration structure

4. Appendix A - Related Agreements: List of any related agreements affected by the release

5. Appendix B - Property Schedule: List of any property to be returned or transferred as part of the release

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

Legal Services

Professional Services

Construction

Real Estate

Manufacturing

Retail

Technology

Healthcare

Education

Financial Services

Insurance

Human Resources

Entertainment

Consulting

Relevant Teams

Legal

Human Resources

Finance

Risk and Compliance

Operations

Commercial

Contract Administration

Corporate Affairs

Business Development

Project Management

Relevant Roles

Legal Counsel

Contract Manager

HR Director

Chief Financial Officer

Risk Manager

Compliance Officer

Business Development Manager

Project Manager

Operations Director

General Manager

Company Secretary

Commercial Director

Settlement Officer

Claims Manager

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