Simple Release Agreement for Malaysia

Simple Release Agreement Template for Malaysia

A comprehensive legal document governed by Malaysian law that formalizes the release of claims, rights, obligations, or liabilities between parties. This agreement provides a clear framework for settling disputes or concluding arrangements, ensuring compliance with the Malaysian Contracts Act 1950 and related legislation. The document includes essential elements such as party details, the scope of release, consideration, and necessary representations and warranties, while offering protection and clarity for all parties involved in the release arrangement.

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What is a Simple Release Agreement?

The Simple Release Agreement serves as a crucial legal instrument under Malaysian law for documenting the formal discharge of claims, rights, or obligations between parties. This document type is particularly useful in situations involving settlement of disputes, conclusion of business relationships, or release of potential claims. The agreement must comply with Malaysian legal requirements, particularly the Contracts Act 1950, and typically includes clear identification of parties, specific details of what is being released, consideration provided, and any continuing obligations. The Simple Release Agreement is commonly used across various sectors and can be customized to address specific release scenarios while maintaining its enforceability under Malaysian jurisdiction.

What sections should be included in a Simple Release Agreement?

1. Parties: Identifies and defines the parties to the agreement, including their full legal names, addresses, and any defined terms for referring to them throughout the document

2. Background: Sets out the context and circumstances leading to the release agreement, including any relevant history or prior agreements

3. Definitions: Defines key terms used throughout the agreement for clarity and precision

4. Release: The core section detailing what claims, rights, or obligations are being released, including the scope and extent of the release

5. Consideration: Specifies the consideration being provided in exchange for the release, as required for validity under Malaysian contract law

6. Representations and Warranties: States the basic representations made by each party regarding their capacity and authority to enter into the agreement

7. Governing Law and Jurisdiction: Specifies that Malaysian law governs the agreement and designates the jurisdiction for any disputes

8. Execution: Contains the signature blocks and execution requirements

What sections are optional to include in a Simple Release Agreement?

1. Confidentiality: Include when the parties wish to keep the terms or existence of the release agreement confidential

2. Non-Disparagement: Include when parties want to prevent negative statements about each other after the release

3. Future Cooperation: Include when parties need to specify any ongoing obligations or cooperation requirements

4. Tax Implications: Include when the release involves financial settlements with potential tax consequences

5. Severability: Include when parties want to ensure that if any provision is found invalid, the rest of the agreement remains effective

6. Entire Agreement: Include when parties want to explicitly state that this agreement supersedes all prior agreements or understandings

What schedules should be included in a Simple Release Agreement?

1. Schedule 1 - Details of Released Claims: Detailed list of specific claims, rights, or obligations being released, if too detailed for main agreement

2. Schedule 2 - Payment Details: If consideration involves payment, details of payment terms, amounts, and methods

3. Appendix A - Related Agreements: List of any related agreements or documents referenced in the release

4. Appendix B - Form of Notice: Standard form for any notices required under the agreement

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

Jurisdiction

Malaysia

Publisher

Genie AI

Document Type

Release Agreement

Cost

Free to use
Relevant Industries

Manufacturing

Construction

Financial Services

Technology

Real Estate

Healthcare

Education

Retail

Professional Services

Energy

Transportation

Agriculture

Media and Entertainment

Telecommunications

Hospitality

Relevant Teams

Legal

Compliance

Human Resources

Risk Management

Corporate Affairs

Operations

Finance

Executive Management

Administration

Business Development

Relevant Roles

Legal Counsel

Contract Manager

Risk Manager

Compliance Officer

Human Resources Director

Chief Legal Officer

Business Development Manager

Project Manager

Corporate Secretary

Operations Manager

Chief Executive Officer

Chief Financial Officer

Settlement Officer

Claims Manager

General Manager

Industries
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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