Company Release Form for United Arab Emirates

Company Release Form Template for United Arab Emirates

A comprehensive legal document governed by UAE law that facilitates the formal release of claims, liabilities, or obligations between companies. This document complies with UAE Federal Laws, including the Commercial Companies Law and Civil Transactions Law, and incorporates necessary provisions for enforcement under UAE jurisdiction. It serves as a binding agreement that protects parties' interests while ensuring clear documentation of the release terms, conditions, and any associated considerations or obligations.

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What is a Company Release Form?

The Company Release Form is a critical legal instrument used in the United Arab Emirates business environment to formally discharge obligations, settle disputes, or release claims between corporate entities. This document is particularly relevant when companies need to conclude business relationships, settle disputes, or provide mutual releases following the completion of transactions or projects. The form must comply with UAE Federal Law No. 32 of 2021 (Commercial Companies Law) and related regulations, ensuring enforceability within the UAE legal framework. It typically includes detailed provisions about the scope of release, consideration, warranties, and governing law, while incorporating necessary elements for Sharia law compliance. The Company Release Form serves as essential documentation for risk management and legal compliance, providing clear evidence of the parties' agreement to release specific claims or obligations.

What sections should be included in a Company Release Form?

1. Parties: Identifies the parties entering into the release agreement, including full legal names, addresses, and registration details for companies

2. Background: Provides context for the release, including relevant history of the relationship between the parties

3. Definitions: Defines key terms used throughout the document for clarity and legal certainty

4. Release and Discharge: Core section detailing the specific claims, rights, or obligations being released

5. Consideration: Specifies any payment or value exchange for the release

6. Representations and Warranties: Statements by both parties confirming their authority and capacity to enter into the release

7. Confidentiality: Provisions regarding the confidentiality of the release terms and related information

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

9. Execution: Signature block and execution requirements following UAE legal formalities

What sections are optional to include in a Company Release Form?

1. Non-Disparagement: Include when parties wish to prevent negative statements about each other after the release

2. Future Claims: Include when addressing potential future claims that may arise from the same subject matter

3. Return of Property: Include when physical or intellectual property needs to be returned as part of the release

4. Cooperation: Include when ongoing cooperation is needed for specific matters post-release

5. Insurance: Include when insurance policies or claims are relevant to the release

6. Tax Implications: Include when the release involves significant financial considerations with tax implications

What schedules should be included in a Company Release Form?

1. Schedule A - Released Claims: Detailed list of specific claims, rights, or obligations being released

2. Schedule B - Excluded Claims: List of claims specifically excluded from the release

3. Schedule C - Settlement Payment Details: Details of any financial settlement, including payment terms and conditions

4. Appendix 1 - Related Agreements: List and copies of any related agreements referenced in the release

5. Appendix 2 - Corporate Authorizations: Copies of corporate resolutions or authorizations for executing the release

Authors

Alex Denne

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

Cost

Free to use

Relevant legal definitions

Clauses

Relevant Industries

Banking & Financial Services

Real Estate & Construction

Manufacturing

Technology & Software

Professional Services

Retail & Consumer Goods

Healthcare

Energy & Utilities

Transportation & Logistics

Media & Entertainment

Hospitality & Tourism

Education

Relevant Teams

Legal

Compliance

Risk Management

Corporate Governance

Finance

Operations

Human Resources

Business Development

Project Management

Executive Leadership

Relevant Roles

Chief Executive Officer

Chief Legal Officer

General Counsel

Legal Director

Corporate Secretary

Risk Manager

Compliance Officer

Business Development Director

Contract Manager

Chief Financial Officer

Managing Director

Operations Director

Project Manager

Human Resources Director

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What is a Company Release Form?

What sections should be included in a Company Release Form?

What sections are optional to include in a Company Release Form?

What schedules should be included in a Company Release Form?

Authors

Alex Denne

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