A Release of Contract Letter is a critical legal instrument under Austrian law used when parties wish to formally terminate their contractual obligations by mutual consent. This document type is particularly relevant when both parties have agreed to end their contractual relationship before its natural conclusion, or when they wish to document the successful completion of a contract with mutual releases. The letter must comply with the Austrian Civil Code (ABGB) requirements and typically includes detailed information about the original contract, the terms of release, any financial settlements, and continuing obligations. It's commonly used in business relationships, employment contexts, service agreements, and commercial partnerships where a clean break and legal certainty are desired. The document should be drafted with careful consideration of Austrian legal requirements regarding contract termination and mutual releases to ensure its enforceability.
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1. Heading and Date: Formal letter heading including date and place of execution
2. Parties' Information: Full legal names and addresses of both parties to the contract being released
3. Contract Reference: Clear identification of the original contract including its date and subject matter
4. Release Statement: Clear and unambiguous statement of the mutual agreement to release the contract
5. Effective Date: Specific date when the release becomes effective
6. Settlement of Obligations: Statement regarding the fulfillment or waiver of any remaining obligations
7. Mutual Release: Statement releasing both parties from future claims related to the contract
8. Signatures: Space for dated signatures of authorized representatives of both parties
1. Outstanding Payments: Section detailing any final payments or financial settlements required, used when there are remaining financial obligations
2. Confidentiality: Statement regarding ongoing confidentiality obligations, used when the original contract contained confidentiality provisions that should survive
3. Return of Property: Section regarding the return of any physical or intellectual property, used when tangible or intangible assets need to be returned
4. Surviving Provisions: List of any contract provisions that will survive the release, used when certain obligations continue past termination
5. Tax Implications: Statement regarding tax responsibilities, used when the release has significant tax implications
6. Data Protection: Provisions regarding handling of personal data post-release, used when GDPR considerations apply
1. Schedule of Settled Accounts: Detailed list of all financial settlements and payments made or to be made
2. Property Return Checklist: List of items or materials to be returned by either party
3. Certificate of Completion: Formal acknowledgment that all obligations have been fulfilled
4. Waiver of Claims: Detailed description of specific claims being waived by each party
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