AI Generated British Mutual Release Agreement
PDF & Word - 2026 Updated

This Mutual Release Agreement (the "Deed") is made as a deed on 15 October 2023 between the parties.

The parties were business partners in a joint venture for developing software applications.

The parties entered into a Joint Venture Agreement dated 15 January 2020 under which they agreed to collaborate on the development and marketing of mobile software applications with shared profits and responsibilities.

The dispute arose from disagreements over profit sharing and intellectual property rights in the software development project leading to mutual claims for breach of contract.

The parties have each received independent legal advice before entering into this Deed.

The parties are releasing each other from all claims demands liabilities and obligations arising out of the Joint Venture Agreement including any disputes related to profit distribution and project contributions.

The parties wish to resolve all matters between them on the terms set out in this Deed.

This Deed is made on 15 October 2023 (the "Effective Date").

The parties to this Deed are:

Each of Party A and Party B is a "Party" and together they are the "Parties".

In this Agreement the following terms shall have the following meanings.

This Deed shall be interpreted using gender neutral language wherever possible.

References to clauses are to clauses of this Deed.

Headings are for convenience only and shall not affect the interpretation of this Deed.

In consideration of the mutual releases and the payment set out in clause 5 each Party irrevocably and unconditionally releases and discharges the other Party by way of deed from all Claims which it has or may have against the other Party arising out of or in connection with the Released Matters up to and including the date of this Deed.

Each Party warrants to the other that it has not assigned transferred or otherwise disposed of any of the Claims being released under this Deed to any third party.

The releases in clauses 4.1 extend to all contractual liabilities tortious liabilities and statutory liabilities whether known or unknown but shall not extend to any future claims that may arise after the date of this Deed except to the extent that they relate to facts or circumstances existing on or before the date of this Deed (subject always to the exclusions in clause 6).

Nothing in this Deed shall release either Party from any ongoing obligations that are expressly stated to survive this Deed.

In consideration of the mutual releases set out in clause 4 Party A shall pay to Party B the sum of \£5,000 (five thousand pounds sterling) exclusive of any applicable VAT (if any) within 14 days of the date of this Deed.

The payment shall be made by electronic transfer to the following bank account: [insert bank details including sort code and account number].

The payment referred to in clause 5.1 is a condition of the releases given in clause 4 and time for payment shall be of the essence.

If VAT is chargeable on the payment it shall be paid in addition to the \£5,000 upon receipt of a valid VAT invoice.

The releases set out in clause 4 shall apply to all known Claims including breach of contract regarding unpaid invoices totaling \£5,000 from services provided in 2023 and a dispute over delivery delays leading to lost business opportunities.

The releases shall also apply to all unknown Claims arising from the Released Matters up to the date of this Deed.

For the avoidance of doubt the releases shall not apply to: (a) any claims arising from fraud or dishonesty; (b) any claims for personal injury; or (c) any other claims that cannot lawfully be released under English law.

The releases shall include all Claims related to the known disputes even if not explicitly listed in this Deed.

For the avoidance of doubt the releases shall not affect any rights or obligations of third parties unless expressly provided for under the Contracts (Rights of Third Parties) Act 1999.

Each Party represents and warrants that it has the full authority and capacity to enter into and sign this Deed (including if a company that it has obtained all necessary board and shareholder approvals).

Each Party represents and warrants that it has received independent legal advice on the terms and effect of this Deed understands the implications of the releases (including in respect of unknown claims) and that its decision to enter into this Deed and provide the release is entirely voluntary and free from any duress or undue influence.

Each Party represents and warrants that it has not transferred assigned or otherwise disposed of any Claims that are being released under this Deed to any third party.

Each Party represents and warrants that there are no pending legal actions or proceedings related to the Claims being released in this Deed.

Each Party represents and warrants that it has fully disclosed all facts and circumstances relating to the Claims being released in this Deed.

The representations and warranties in this clause 7 shall survive the execution and delivery of this Deed.

Nothing in this Deed shall constitute or be construed as an admission of liability or wrongdoing by Party A or Party B.

This Deed is entered into solely for the purpose of resolving the Released Matters without any admission of liability on the part of either Party.

Each Party shall keep the terms of this Deed and any related information confidential.

The confidentiality obligation shall extend to any information beyond the terms of this Deed that relates to the Released Matters.

The confidentiality obligation shall not apply to disclosures made to legal advisors auditors or regulators or as required in legal proceedings.

The confidentiality obligation shall continue indefinitely.

In the event of a breach of this clause the innocent Party shall be entitled to seek injunctive relief.

Neither Party A nor Party B shall make any negative or derogatory statements about the other Party whether in public statements private communications or social media posts.

Any breach of this clause shall entitle the innocent Party to seek damages and any other remedies available at law.

Each Party shall bear its own legal and other costs and expenses incurred in relation to the negotiation preparation and execution of this Deed.