Settlement Release of Liability
Prepared by: [YOUR NAME]
Date: August 28, 2050
This Settlement Release of Liability ("Release") is entered into by and between the following parties:
Releasor: Jacob Smith, residing at 1374 Eagle Drive, Denver, CO 80202
Releasee: [YOUR COMPANY NAME], a company duly organized under the laws of Colorado, with its principal place of business located at [YOUR COMPANY ADDRESS], represented by [YOUR NAME], with the company contact details as follows:
Email: [YOUR EMAIL]
Phone: [YOUR COMPANY NUMBER]
Website: [YOUR COMPANY WEBSITE]
Social Media: [YOUR COMPANY SOCIAL MEDIA]
This Release is effective as of August 28, 2050, and is made with reference to the following facts:
Recitals
WHEREAS:
[YOUR COMPANY NAME] (the "Releasee") claims that Jacob Smith (the "Releasor") owes a debt amounting to $25,000 arising from a personal loan dated June 10, 2048.
The parties wish to settle this debt dispute amicably without further legal action or claims being pursued in the future.
Jacob Smith has agreed to pay [YOUR COMPANY NAME] a negotiated sum of $15,000 ("Settlement Amount") in full and final settlement of the debt, and [YOUR COMPANY NAME] has agreed to accept this amount as satisfaction of the debt.
Both parties desire to formalize this settlement and release any further claims related to the debt.
NOW, THEREFORE, in consideration of the terms and conditions set forth below, the parties agree as follows:
Release of Claims
Release by Releasor:
In consideration of the payment of the Settlement Amount of $15,000, the sufficiency of which is hereby acknowledged, Jacob Smith, the Releasor, on behalf of himself and his heirs, representatives, successors, and assigns, hereby fully releases and forever discharges [YOUR COMPANY NAME], the Releasee, along with its affiliates, officers, directors, employees, and agents, from any and all claims, demands, actions, causes of action, and liabilities, whether known or unknown, that have arisen or may arise from the debt described herein.
Release by Releasee:
Upon receipt of the full Settlement Amount from the Releasor, [YOUR COMPANY NAME], the Releasee, on behalf of itself and its successors, assigns, affiliates, and agents, agrees to release Jacob Smith from any further claims, demands, or legal actions related to the original debt of $25,000, and acknowledges that the debt has been satisfied in full.
Payment Terms
The Releasor agrees to pay the Settlement Amount of $15,000 as follows:
Payment Due Date | Amount Due | Payment Method | Confirmation Number | Payment Status |
|---|
September 5, 2050 | $3,000 | Bank Transfer | CONF2050-0001 | Pending |
October 5, 2050 | $3,000 | Bank Transfer | CONF2050-0002 | Pending |
November 5, 2050 | $3,000 | Bank Transfer | CONF2050-0003 | Pending |
December 5, 2050 | $3,000 | Bank Transfer | CONF2050-0004 | Pending |
January 5, 2051 | $3,000 | Bank Transfer | CONF2050-0005 | Pending |
The total Settlement Amount of $15,000 will be fully paid by January 5, 2051.
No Admission of Liability
The parties acknowledge that this settlement is not an admission of liability or wrongdoing by any party. It is a mutually agreed-upon resolution to avoid further disputes or litigation.
Governing Law
This Release shall be governed by, and construed in accordance with, the laws of the State of Colorado without regard to its conflict of laws principles.
Entire Agreement
This Release constitutes the entire agreement between the parties with respect to the settlement of the debt described herein and supersedes any prior agreements or understandings, whether written or oral.
Execution of Agreement
This Release may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same document. Electronic signatures shall be deemed valid and binding as original signatures.
IN WITNESS WHEREOF, the undersigned have executed this Settlement Release of Liability as of the day and year first written above.
Releasor:
Jacob Smith
Date: [Month Day, 2050]
Releasee:
[YOUR COMPANY NAME]
By: [YOUR NAME]
Title: Chief Financial Officer
Date: August 28, 2050
Release of Liability Templates @ Template.net
