Mutual Release Of Claims Template for Austria

The Mutual Release of Claims agreement is a critical legal instrument used in Austrian business and civil matters when parties wish to resolve existing or potential disputes and create a clean slate in their relationship. This document is particularly valuable following the resolution of conflicts, completion of business relationships, or settlement of disputes to prevent future litigation. It operates under Austrian law, specifically the Austrian Civil Code (ABGB), and requires careful consideration of both known and potential future claims. The agreement typically includes detailed descriptions of the claims being released, any exceptions to the release, and may involve monetary or non-monetary consideration. It's commonly used in employment separations, business dissolutions, post-transaction disputes, and settlement of commercial disagreements.

1. Parties: Identification of all parties to the agreement, including full legal names, addresses, and registration details if applicable

2. Background: Context of the dispute or claims, relationship between the parties, and events leading to this agreement

3. Definitions: Definitions of key terms used throughout the agreement, including 'Claims', 'Effective Date', and other relevant terms

4. Mutual Release: Core provision where parties mutually release and forever discharge each other from all claims covered by the agreement

5. Scope of Release: Detailed description of what claims are covered by the release, including known and unknown claims if applicable

6. Consideration: Statement of the consideration given by each party for the release, even if nominal

7. Representations and Warranties: Parties' confirmations about their authority to enter into the agreement and understanding of its implications

8. Confidentiality: Provisions regarding confidentiality of the agreement and the underlying disputes

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

10. Entire Agreement: Confirmation that this document represents the entire agreement between the parties regarding the released claims