Overview

This Deed of Release is for use where the Releasor is a company and the Releasee is a company. This Mutual Deed of Release is entered into whereby each party releases the other from all obligations and liabilities in full settlement of all outstanding issues between the parties.

This Deed of Release contemplates that either:

• the parties have entered various transactions and/or contracts and that no court proceedings have commenced, or
  
• that the parties have claims against one another but no proceedings have commenced, or
  
• that the Releasor has commenced proceedings and the Releasee has cross-claims and this deed is in settlement of all claims.

This deed of release also provides an option whereby either party may be paying the other party a specified sum (consideration) in addition to the mutual releases, promises and undertakings given by each party.

This Deed of Release includes the following provisions:

1. Interpretation
2. Consideration for the Release
3. Release by Releasor
4. Confidentiality
5. Deed May be Pleaded as Bar to Actions
6. Entire Agreement
7. Costs
8. Severance
9. Counterparts
10. Any Other Necessary Acts
11. Independent Legal Advice