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1. Parties: Identification of the Releasor (party granting the release) and Releasee (party being released from liability), including full legal names and addresses
2. Background: Brief description of the incident causing property damage, date of occurrence, and context of the situation
3. Definitions: Key terms used in the agreement including 'Property Damage', 'Claims', 'Release', and other relevant terms
4. Consideration: Statement of the consideration being provided in exchange for the release (usually a monetary amount)
5. Release Terms: Specific terms of the release, including scope of claims being released and effective date
6. No Admission of Liability: Statement that the release and any payment does not constitute an admission of fault or liability
7. Entire Agreement: Confirmation that this document represents the complete agreement between parties regarding the release
8. Governing Law: Specification that Hong Kong law governs the agreement
9. Execution: Signature blocks for all parties and witnesses
1. Insurance Claims: Section addressing any insurance claims made or to be made regarding the property damage, used when insurance is involved
2. Confidentiality: Terms regarding confidentiality of the settlement and release, used when parties wish to keep terms private
3. Future Damages: Provisions addressing potential future or unknown damages, used when there's uncertainty about the full extent of damage
4. Third Party Rights: Section addressing rights of third parties under the Contracts (Rights of Third Parties) Ordinance, used when third parties might be affected
5. Severability: Clause stating that if any provision is found invalid, others remain enforceable, used in more complex situations
1. Schedule 1 - Property Damage Description: Detailed description of the property damage including location, extent, and nature of damage
2. Schedule 2 - Photographic Evidence: Photographs documenting the property damage
3. Schedule 3 - Payment Details: Details of any settlement payment including amount, payment method, and timing
4. Appendix A - Incident Report: Copy of any official incident reports or documentation of the damage event
Real Estate
Construction
Property Management
Insurance
Facilities Management
Retail
Hospitality
Manufacturing
Logistics
Commercial Property
Legal
Risk Management
Operations
Facilities Management
Property Management
Claims
Compliance
Real Estate
Asset Management
Contract Administration
Property Manager
Facility Manager
Legal Counsel
Risk Manager
Operations Manager
Claims Adjuster
Contract Administrator
Building Superintendent
Project Manager
Insurance Manager
Compliance Officer
Real Estate Manager
Asset Manager
Site Supervisor
General Counsel
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