The General Release And Settlement Agreement is a crucial legal instrument used in the United Arab Emirates to resolve disputes and provide a comprehensive settlement framework between parties. This document is particularly relevant in situations where parties wish to definitively resolve existing disputes, whether arising from commercial transactions, employment relationships, or other business dealings. It is designed to comply with UAE Federal Law No. 5 of 1985 (Civil Code) and related legislation, making it enforceable in UAE courts. The agreement typically includes detailed provisions for settlement payments, mutual releases, confidentiality obligations, and other terms necessary to achieve a full and final settlement. It's commonly used in both local and international business contexts within the UAE, particularly in Dubai and Abu Dhabi's business hubs, and can be adapted for various types of disputes ranging from simple commercial matters to complex multi-party conflicts.
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1. Parties: Identifies and defines all parties to the agreement, including their legal status and addresses
2. Background: Recitals explaining the context of the dispute or claims and the parties' desire to settle
3. Definitions: Defines key terms used throughout the agreement
4. Settlement Payment: Details of the settlement amount, payment terms, method, and timing
5. Release of Claims: Comprehensive release of all claims between the parties
6. Mutual Representations and Warranties: Each party's assertions regarding their capacity and authority to enter into the agreement
7. Confidentiality: Obligations regarding the confidentiality of the settlement terms and related information
8. Non-Admission of Liability: Statement that the settlement does not constitute an admission of liability by any party
9. Governing Law and Jurisdiction: Specifies UAE law as governing law and establishes jurisdiction for disputes
10. Entire Agreement: Confirms that this document represents the complete agreement between the parties
11. Execution: Signature blocks and execution requirements
1. Non-Disparagement: Prohibits parties from making negative statements about each other - used in sensitive or high-profile cases
2. Return of Property: Requirements for returning documents or property - relevant when physical or intellectual property is involved
3. Cooperation: Obligations to cooperate in implementing the settlement - used when future actions are required
4. Tax Implications: Addresses responsibility for taxes - relevant when settlement involves significant monetary compensation
5. Future Claims: Provisions regarding unknown future claims - used in complex cases with potential future implications
6. Insurance: Insurance-related provisions - relevant when insurance companies are involved in the settlement
7. Regulatory Compliance: Specific regulatory requirements - used when settlement involves regulated industries
8. Third Party Rights: Addresses rights of third parties - relevant when settlement affects third party interests
1. Schedule 1 - Settlement Payment Details: Detailed breakdown of settlement amounts and payment schedule
2. Schedule 2 - Released Claims: Comprehensive list of specific claims being released
3. Schedule 3 - Required Actions: List of specific actions required by each party to implement the settlement
4. Schedule 4 - Relevant Documents: List of documents referenced in or relevant to the settlement
5. Appendix A - Form of Release: Standard form of release to be executed by parties
6. Appendix B - Form of Announcement: Agreed form of any public announcement regarding the settlement
Relevant legal definitions
Agreement
Business Day
Claim
Confidential Information
Dispute
Effective Date
Encumbrance
Execution Date
Group Companies
Indemnified Parties
Law
Liability
Loss
Payment Date
Released Claims
Released Matters
Released Parties
Settlement Amount
Settlement Payment
Settlement Period
Settling Parties
Subsidiary
UAE
Working Hours
Business Day
Claim
Confidential Information
Dispute
Effective Date
Encumbrance
Execution Date
Group Companies
Indemnified Parties
Law
Liability
Loss
Payment Date
Released Claims
Released Matters
Released Parties
Settlement Amount
Settlement Payment
Settlement Period
Settling Parties
Subsidiary
UAE
Working Hours
Clauses
Definitions
Interpretation
Settlement Terms
Payment Obligations
Release
Waiver
Representations and Warranties
Confidentiality
Non-Admission
Non-Disparagement
Indemnification
Further Assurance
Assignment
Severability
Amendment
Notices
Costs
Force Majeure
Governing Law
Jurisdiction
Dispute Resolution
Entire Agreement
Counterparts
Language
Time of Essence
Third Party Rights
Compliance with Laws
Termination
Interpretation
Settlement Terms
Payment Obligations
Release
Waiver
Representations and Warranties
Confidentiality
Non-Admission
Non-Disparagement
Indemnification
Further Assurance
Assignment
Severability
Amendment
Notices
Costs
Force Majeure
Governing Law
Jurisdiction
Dispute Resolution
Entire Agreement
Counterparts
Language
Time of Essence
Third Party Rights
Compliance with Laws
Termination
Relevant Industries
Financial Services
Construction
Real Estate
Technology
Healthcare
Manufacturing
Retail
Professional Services
Energy
Transportation
Hospitality
Insurance
Maritime
Aviation
Telecommunications
Relevant Teams
Legal
Compliance
Risk Management
Finance
Human Resources
Operations
Corporate Affairs
Commercial
Insurance
Treasury
Internal Audit
Corporate Governance
Relevant Roles
Chief Legal Officer
General Counsel
Legal Director
Compliance Officer
Risk Manager
Chief Executive Officer
Chief Financial Officer
Commercial Director
Human Resources Director
Operations Manager
Contract Manager
Claims Manager
Settlement Officer
Dispute Resolution Specialist
Corporate Secretary
Business Unit Head
Finance Manager
Insurance Manager
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