Document background
The Termination And Mutual Release Agreement is a crucial document used when parties wish to formally end their contractual relationship and obtain mutual releases from future claims. It is commonly used in Hong Kong business practice when parties want to achieve a clean break from their existing obligations while protecting themselves from future litigation. This document is particularly relevant in situations involving commercial contracts, employment relationships, joint ventures, or service agreements that need to be terminated before their natural expiry. The agreement typically includes provisions for settlement payments, return of property, confidentiality obligations, and non-disparagement clauses, all crafted to comply with Hong Kong law requirements. It serves as a comprehensive solution for parties seeking to document the terms of their separation and mutually release each other from future claims or liabilities.
