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Release And Indemnity Agreement

Release And Indemnity Agreement Template for Austria

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Key Requirements PROMPT example:

Release And Indemnity Agreement

"Need a Release and Indemnity Agreement under Austrian law for settling a workplace accident claim with a former employee, including ongoing medical expense coverage until March 2025 and mutual confidentiality provisions."

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Document background
The Release And Indemnity Agreement is a crucial legal instrument used in Austrian business and civil matters to formally resolve existing or potential disputes and establish future protections. This document is commonly employed following settlements, business transactions, or incident resolutions, where one party wishes to be released from liability while potentially providing indemnification against future claims. The agreement must be carefully structured to comply with Austrian legal requirements, particularly the ABGB (Austrian Civil Code), and may need to address specific sectoral regulations depending on the context. It's essential in situations involving employment separations, corporate transactions, accident settlements, or business relationship terminations, providing legal certainty and risk management for all parties involved.
Suggested Sections

1. Parties: Identification and details of the Releasor and Releasee, including full legal names, addresses, and any relevant registration numbers

2. Background: Context of the agreement, including relevant events, relationships, or circumstances leading to the need for the release and indemnity

3. Definitions: Clear definitions of key terms used throughout the agreement, including 'Claims', 'Losses', 'Indemnified Parties', etc.

4. Release: Detailed description of what claims, rights, or actions are being released, including the scope and extent of the release

5. Indemnification: Specific obligations regarding indemnification, including what losses are covered and the process for seeking indemnification

6. Consideration: Description of the consideration being provided in exchange for the release and indemnity

7. Representations and Warranties: Statements by both parties regarding their authority to enter into the agreement and understanding of its terms

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

9. Entire Agreement: Confirmation that this document represents the complete agreement between the parties

10. Execution: Signature blocks and execution requirements

Optional Sections

1. Survival: Specifies which provisions survive termination of the agreement - include when there are ongoing obligations

2. Insurance: Insurance requirements and obligations - include when specific insurance coverage is required

3. Confidentiality: Provisions regarding confidential information - include when sensitive information is involved

4. Notice Requirements: Procedures for providing notice of claims - include when formal notification processes are needed

5. Dispute Resolution: Alternative dispute resolution procedures - include when parties prefer mediation or arbitration

6. Severability: Provisions for maintaining validity if parts are found unenforceable - include in complex agreements

7. Assignment: Restrictions on transfer of rights/obligations - include when assignment rights need to be controlled

Suggested Schedules

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

2. Schedule B - Indemnified Matters: Specific matters, events, or circumstances covered by the indemnification

3. Schedule C - Excluded Claims: List of claims or matters specifically excluded from the release

4. Appendix 1 - Related Parties: List of additional parties covered by the release or indemnification provisions

5. Appendix 2 - Incident Report: Details of specific incident(s) giving rise to the agreement, if applicable

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Manufacturing

Construction

Financial Services

Insurance

Healthcare

Technology

Real Estate

Professional Services

Transportation

Energy

Retail

Hospitality

Education

Telecommunications

Relevant Teams

Legal

Risk Management

Compliance

Human Resources

Finance

Operations

Insurance

Corporate Affairs

Contract Management

Executive Leadership

Relevant Roles

Legal Counsel

Risk Manager

Compliance Officer

Human Resources Director

Chief Financial Officer

Business Development Manager

Operations Director

Insurance Claims Manager

Corporate Secretary

Contract Administrator

General Manager

Chief Executive Officer

Settlement Officer

Legal Operations Manager

Industries
Austrian Civil Code (ABGB): The foundational civil law legislation that governs contracts, obligations, and liability (particularly §§859-937 on contracts, §§1293-1341 on damages and compensation)
Austrian Consumer Protection Act (KSchG): Regulates contracts involving consumers and provides additional protections, including restrictions on liability waivers in consumer contracts
Austrian Commercial Code (UGB): Applies to commercial transactions between businesses and contains specific provisions regarding liability and indemnification in commercial relationships
Austrian General Law of Administrative Procedure (AVG): May be relevant for formal requirements of declarations and notifications in certain contexts
Limitation Act provisions in ABGB (§§1451-1502): Governs the time limits within which legal claims must be brought and how liability periods can be modified by agreement
Austrian Product Liability Act (PHG): Relevant if the release and indemnity relates to products, as it contains mandatory provisions that cannot be waived
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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