The Letter of Release Form is a crucial legal instrument in Philippine business and legal practice, used to formally document the discharge of obligations, settlement of claims, or completion of contractual responsibilities. This document type is commonly utilized in various scenarios including employment separations, contract completions, debt settlements, and project closures. The form must adhere to Philippine legal requirements, particularly those outlined in the Civil Code of the Philippines and related regulations. It serves as a protective measure for both parties by clearly documenting the terms of release and preventing future claims or disputes. The document's importance is highlighted by its frequent use in business transactions and its role in providing legal certainty under Philippine jurisdiction.
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1. Letter Header: Complete contact information of the issuing party, date, and recipient's details
2. Subject Line: Clear indication that this is a Release Form and brief context
3. Opening Statement: Formal salutation and introduction of the parties involved
4. Purpose Statement: Clear statement of the intent and purpose of the release
5. Release Details: Specific description of what is being released (obligations, claims, rights, etc.)
6. Consideration: Statement of any consideration being provided for the release
7. Effectivity: When the release takes effect and its duration
8. Signature Block: Space for signatures, names, titles of all parties, and notary details if required
1. Non-Admission Clause: Statement that the release does not constitute admission of liability or wrongdoing
2. Confidentiality Provision: Include when the terms of the release should remain confidential
3. Return of Property: When the release involves return or transfer of physical items or documents
4. Continuing Obligations: Any obligations that survive or continue after the release
5. Governing Law: Specific mention of Philippine law application when dealing with international parties
6. Witness Section: Additional space for witness signatures when extra verification is needed
1. Schedule A - Items Released: Detailed list of specific items, claims, or rights being released when too lengthy for main letter
2. Schedule B - Returned Properties: Inventory of physical items or documents being returned as part of the release
3. Schedule C - Payment Details: If consideration is involved, detailed breakdown of payments or financial terms
4. Appendix 1 - Supporting Documents: Copies of relevant documents referenced in the release
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Relevant Teams
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Human Resources
Compliance
Finance
Operations
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Corporate Secretarial
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Managing Director
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