Receipt And Release Form

Receipt And Release Form Template for Austria

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Key Requirements PROMPT example:

"I need a Receipt and Release Form under Austrian law for a settlement between my construction company and a subcontractor, acknowledging receipt of final payment of €50,000 and releasing all claims related to the Vienna office building project completed in January 2025."

Document background

The Receipt and Release Form is a crucial legal document used in Austrian jurisdiction when parties wish to formally document the receipt of payment or consideration and simultaneously release certain claims or rights. This document type is commonly used in settlement agreements, employment terminations, insurance claim resolutions, and general dispute settlements. The form must comply with Austrian legal requirements, particularly those outlined in the ABGB (Austrian Civil Code), and typically includes specific details about the consideration received, the scope of claims being released, and any relevant conditions or exceptions. Receipt and Release Forms are particularly important in providing legal certainty and preventing future disputes by clearly documenting the terms of settlement and release. They serve as evidence of payment and waiver of rights, making them essential in both business and personal contexts.

Suggested Sections

1. Parties: Identification of the releasing party (Verzichtender) and the released party (Begünstigter), including full legal names, addresses, and any relevant registration numbers

2. Background: Brief description of the circumstances leading to the release, including any relevant incidents, claims, or disputes

3. Definitions: Definition of key terms used in the document, particularly the scope of claims being released

4. Receipt Acknowledgment: Explicit acknowledgment of the receipt of consideration (payment or other value) with specific amount and payment details

5. Release Provisions: Detailed description of the claims, rights, and causes of action being released, including temporal scope

6. Representations and Warranties: Statements by the releasing party regarding their authority to grant the release and understanding of its implications

7. Governing Law: Specification that Austrian law governs the agreement

8. Execution: Formal execution block complying with Austrian requirements, including date and signatures

Optional Sections

1. Confidentiality: Terms regarding confidentiality of the settlement and release, used when parties wish to maintain privacy about the agreement

2. Tax Implications: Section addressing tax consequences of the payment, particularly relevant for larger settlements

3. Future Claims: Specific provisions regarding unknown future claims, used when parties want to ensure comprehensive coverage of potential future issues

4. Non-Disparagement: Mutual or unilateral agreements not to make negative statements, included when reputation protection is important

5. Return of Property: Provisions regarding return of any property or documents, relevant in employment or business relationship contexts

6. Severability: Clause ensuring remaining provisions stay valid if part of agreement is found invalid, used in more complex releases

Suggested Schedules

1. Schedule A - Payment Details: Detailed breakdown of any payment or consideration being provided

2. Schedule B - Released Claims: Itemized list of specific claims being released, particularly useful in complex disputes

3. Schedule C - Excluded Claims: List of any claims specifically excluded from the release, if applicable

4. Appendix 1 - Supporting Documents: Copies of relevant documents referenced in the release (e.g., incident reports, prior agreements)

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

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