OVERVIEW OF MUTUAL RELEASE AGREEMENT
What is this document?
A Mutual Release is an agreement between two parties in a dispute whereby both parties give up all known and unknown claims against the other party. This Agreement may be limited in scope to certain types of claims but a Mutual Release is usually a general release to all claims related to the initial dispute.
When would I use this document?
Where a dispute is settled and the parties need to ensure that related or possible additional claims that may arise from the initial dispute will not be initiated by either party.
Who signs this document?
The parties involved in the initial dispute must sign.
More details about this document
A Mutual Release agreement can be used in a variety of disputes in different areas of law. It is important that both parties are aware of what exactly those rights are that the parties are giving up.
What are the core elements of this document?
The core elements of an Mutual Release Agreement include:
Scope of the types of claims that both parties cannot initiate.
Additional clauses may include:
Other undertakings between the parties that may be specific to resolving the dispute.
Any terms in regards to deposits made.
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