Mutual Release Agreement Template for Austria

The Mutual Release Agreement is a critical legal instrument used when parties wish to achieve a clean break and resolve all existing or potential disputes between them. It is particularly useful following the termination of business relationships, resolution of disputes, or conclusion of projects where parties want to prevent future claims. Under Austrian law, this agreement type (Vergleich) is governed by specific provisions of the ABGB and requires careful drafting to ensure enforceability. The document typically includes comprehensive releases, warranties, and acknowledgments, with particular attention to Austrian legal requirements regarding the specificity of releases and the parties' understanding of their rights. It's commonly used in business dissolutions, employment separations, settlement of disputes, and commercial relationship terminations.

1. Parties: Identification of all parties to the agreement, including their full legal names, addresses, and any relevant registration numbers

2. Background: Context of the relationship between the parties, description of any disputes or claims that led to this agreement, and the parties' desire to resolve all matters between them

3. Definitions: Definitions of key terms used throughout the agreement, including 'Claims', 'Released Matters', and any specific terms relevant to the underlying dispute

4. Mutual Releases: The core provisions where each party releases the other from claims, including specific description of the scope of releases

5. Acknowledgments: Parties' acknowledgments of understanding their rights, having received legal advice, and the binding nature of the release

6. Warranties and Representations: Parties' warranties about ownership of claims being released, authority to enter agreement, and no prior assignment of claims

7. Confidentiality: Obligations regarding confidentiality of the agreement terms and any underlying disputes

8. Costs: Allocation of costs related to the agreement and any underlying disputes

9. Governing Law and Jurisdiction: Specification of Austrian law as governing law and designation of competent courts

10. General Provisions: Standard boilerplate clauses including entire agreement, amendments, severability, and counterparts