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Release Of Contract Letter

Release Of Contract Letter Template for Austria

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Key Requirements PROMPT example:

Release Of Contract Letter

"I need a Release of Contract Letter under Austrian law to terminate a software development agreement with TechCorp GmbH, effective March 15, 2025, with mutual release of all claims and obligations except for the surviving confidentiality provisions."

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Document background
A Release of Contract Letter is a critical legal instrument under Austrian law used when parties wish to formally terminate their contractual obligations by mutual consent. This document type is particularly relevant when both parties have agreed to end their contractual relationship before its natural conclusion, or when they wish to document the successful completion of a contract with mutual releases. The letter must comply with the Austrian Civil Code (ABGB) requirements and typically includes detailed information about the original contract, the terms of release, any financial settlements, and continuing obligations. It's commonly used in business relationships, employment contexts, service agreements, and commercial partnerships where a clean break and legal certainty are desired. The document should be drafted with careful consideration of Austrian legal requirements regarding contract termination and mutual releases to ensure its enforceability.
Suggested Sections

1. Heading and Date: Formal letter heading including date and place of execution

2. Parties' Information: Full legal names and addresses of both parties to the contract being released

3. Contract Reference: Clear identification of the original contract including its date and subject matter

4. Release Statement: Clear and unambiguous statement of the mutual agreement to release the contract

5. Effective Date: Specific date when the release becomes effective

6. Settlement of Obligations: Statement regarding the fulfillment or waiver of any remaining obligations

7. Mutual Release: Statement releasing both parties from future claims related to the contract

8. Signatures: Space for dated signatures of authorized representatives of both parties

Optional Sections

1. Outstanding Payments: Section detailing any final payments or financial settlements required, used when there are remaining financial obligations

2. Confidentiality: Statement regarding ongoing confidentiality obligations, used when the original contract contained confidentiality provisions that should survive

3. Return of Property: Section regarding the return of any physical or intellectual property, used when tangible or intangible assets need to be returned

4. Surviving Provisions: List of any contract provisions that will survive the release, used when certain obligations continue past termination

5. Tax Implications: Statement regarding tax responsibilities, used when the release has significant tax implications

6. Data Protection: Provisions regarding handling of personal data post-release, used when GDPR considerations apply

Suggested Schedules

1. Schedule of Settled Accounts: Detailed list of all financial settlements and payments made or to be made

2. Property Return Checklist: List of items or materials to be returned by either party

3. Certificate of Completion: Formal acknowledgment that all obligations have been fulfilled

4. Waiver of Claims: Detailed description of specific claims being waived by each party

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

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alex.den.21@genieai.co
Relevant Industries

Manufacturing

Information Technology

Professional Services

Real Estate

Construction

Healthcare

Education

Financial Services

Retail

Hospitality

Telecommunications

Energy

Transportation

Media and Entertainment

Agriculture

Consulting

Relevant Teams

Legal

Human Resources

Procurement

Finance

Compliance

Risk Management

Operations

Commercial

Business Development

Contract Administration

Corporate Affairs

Executive Leadership

Relevant Roles

Legal Counsel

Contract Manager

Chief Legal Officer

Business Development Manager

Human Resources Director

Procurement Manager

Project Manager

Chief Executive Officer

Chief Financial Officer

Operations Manager

Compliance Officer

Risk Manager

Account Manager

Department Head

General Manager

Commercial Director

Industries
Austrian Civil Code (ABGB) §859-937: General provisions regarding contract formation, validity, and termination of contracts. These sections provide the fundamental legal basis for how contracts can be legally terminated or released.
Austrian Civil Code (ABGB) §1378-1410: Provisions regarding the dissolution of obligations, including mutual release agreements and settlement of claims. These sections are crucial for ensuring the release is legally binding.
Austrian Civil Code (ABGB) §861-864: Requirements for valid declarations of intent and form requirements for legal documents, ensuring the release letter meets all formal legal requirements.
General Data Protection Regulation (GDPR): If the contract involves personal data processing, considerations regarding data handling post-contract termination must be addressed.
Austrian Labor Law (Arbeitsrecht): If the release involves an employment contract, specific provisions regarding employee rights and protections must be considered.
Austrian Commercial Code (UGB): If the contract release involves commercial relationships between businesses, relevant provisions regarding commercial relationships and their termination must be considered.
Austrian Stamp Duty Act (Gebührengesetz): Requirements regarding stamp duties and official fees that may apply to the release document.
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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