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Company Release Form for Malaysia

Company Release Form Template for Malaysia

A Company Release Form under Malaysian law is a formal legal document that facilitates the discharge of claims, obligations, or liabilities between a company and another party. This document, governed by Malaysian corporate and contract law, particularly the Companies Act 2016 and Contracts Act 1950, provides a legally binding mechanism for companies to resolve disputes, settle claims, or terminate specific obligations. It includes detailed provisions for the scope of release, considerations, warranties, and execution requirements compliant with Malaysian legal standards.

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What is a Company Release Form?

The Company Release Form is a crucial legal instrument in Malaysian corporate practice, designed to provide a clear and legally binding mechanism for companies to discharge obligations, settle disputes, or terminate specific relationships. This document becomes necessary in various business scenarios, including the conclusion of business relationships, settlement of disputes, or release of claims following a transaction. The form must comply with Malaysian legal requirements, particularly the Companies Act 2016 and Contracts Act 1950, and typically includes specific provisions about the scope of release, considerations, representations and warranties, and execution requirements. It serves as a risk management tool for businesses, providing certainty and finality to various corporate matters while protecting the interests of all parties involved.

What sections should be included in a Company Release Form?

1. Parties: Identifies and defines the releasing party (typically the company) and the releasee, including full legal names and registration details

2. Background: Provides context for the release, including relevant history of the relationship between parties

3. Definitions: Defines key terms used throughout the document for clarity and legal certainty

4. Release and Discharge: Core section detailing the scope of the release, what claims or rights are being released

5. Consideration: Specifies what is being given in exchange for the release to ensure legal validity

6. Representations and Warranties: Statements of fact and promises made by both parties regarding their capacity and authority to enter into the release

7. Governing Law: Specifies Malaysian law as governing law and jurisdiction for disputes

8. Execution: Formal signing section including witness requirements and company seal provisions as per Malaysian law

What sections are optional to include in a Company Release Form?

1. Confidentiality: Include when the release involves sensitive information that needs to remain confidential

2. Non-Disparagement: Add when there's a need to prevent parties from making negative statements about each other

3. Return of Property: Include when there are physical or digital assets that need to be returned

4. Tax Implications: Add when the release involves payments or transfers that may have tax consequences

5. Severability: Include when there's a need to ensure the rest of the agreement remains valid if any part is found unenforceable

6. Future Cooperation: Add when ongoing cooperation between parties may be needed after the release

What schedules should be included in a Company Release Form?

1. Schedule 1 - Released Claims: Detailed list of specific claims, rights, or obligations being released

2. Schedule 2 - Excluded Claims: List of claims specifically excluded from the release

3. Schedule 3 - Company Assets: Inventory of any company property or assets involved in the release

4. Appendix A - Required Documents: List of supporting documents required for the release to take effect

5. Appendix B - Execution Requirements: Specific requirements for execution under Malaysian law, including witness and company seal requirements

Authors

Alex Denne

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

Jurisdiction

Malaysia

Cost

Free to use
Relevant legal definitions



























Clauses




















Relevant Industries

Manufacturing

Financial Services

Technology

Professional Services

Construction

Retail

Healthcare

Education

Real Estate

Telecommunications

Energy

Transportation

Hospitality

Relevant Teams

Legal

Compliance

Human Resources

Finance

Corporate Secretarial

Risk Management

Operations

Corporate Affairs

Administrative

Executive Management

Relevant Roles

Chief Executive Officer

Managing Director

Legal Counsel

Company Secretary

Risk Manager

Compliance Officer

Human Resources Director

Chief Financial Officer

Contract Manager

Business Development Manager

Operations Director

Board Member

Corporate Affairs Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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