This deed of release is between two companies, Party 1 and Party 2, who had previously entered into an agreement. Party 2 has asked Party 1 to make the final payment under the agreement. In return, Party 2 provides warranties and releases Party 1 from any claims related to their agreement. Specifically, Party 2 warrants that it has paid all third parties, made all claims under the agreement, and lists the final payment amount. Party 2 then releases Party 1 from any current or future claims regarding their agreement. The release can be used by Party 1 as a defense against any proceedings brought by Party 2 related to their agreement. Party 2 acknowledges entering into the release voluntarily.

1. DEED OF RELEASE
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[insert 1st party], accompany incorporated in [insert] and whose registered address is
(insert physical address) and [postal address], AND
[insert 2nd party], a company incorporated in (insert) and whose registered address is
(insert physical address) and postal address (insert P.O Box).
BACKGROUND
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A. (Name of 1st Party) and the (Name of 2nd Party) have entered into agreement
described in the attached Schedule.
B. The 2nd party has asked 1st party to make the final payment on the basis that the
2nd party gives to 1st party the warranties and release contained in this deed.
OPERATIVE PART
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Interpretation
1. Defined terms and the interpretation of this Deed are the same as Contract.
2. Contract means the agreement between 1st party and the 2nd party dated (insert)
and constituted by the Contract Documents as defined in the Contract.
Warranties
3. The 2nd party warrants each of the following:
3.1 The 2nd party has paid all amounts due and owing to any third party in
respect of all work, the supply of Goods, materials and services to the 2nd
party for the performance of the 2nd party's obligations under the Contract.
3.2 At the date of this Deed, the 2nd party has made claim for all entitlements
relating to the performance of the Contract, whether known or not, due
under or related to the Contract as money or extensions of time or as
damages, for any matter or event which has arisen prior to the date of this
Deed.
3.3 The final adjusted sum payable to the 2nd party by the 1st party under
related or associated to the Contract is set out in the Schedule to this Deed.
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2. Release
4. The Subcontract releases 1st party from any claim, action or demand arising from
or in any way connected with the Contract and the performance of the Contract.
Bar to proceedings
5. The Subcontractor acknowledges that 1st party may plead this Deed as a bar to
any Claim, proceedings, action or application commenced or continued by the
Subcontractor in relation to the Contract.
Acknowledgement
6. The Subcontractor acknowledges that:
6.1 it has entered into this Deed in accordance with its obligations under the
Contract;
6.2 it has not entered into this Deed as a result of any representation or
inducement made to it by Multiplex, its servants or agents, nor under any
duress; and
6.3 this release does not relive it of its obligations under the Contract, nor does
it restrict the rights of the 1st party under the Contract.
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3. Executed as a Deed
Dated this _______________ day of __________
SIGNED by as authorized representative for )
1st party, in the presence of: ) ................................................
) Signature
)
) ................................................
............................................................................. ) Name
Signature of Witness )
)
) Company Stamp
............................................................................. )
Name of witness (block letters) )
)
)
)
SIGNED by authorized representative for )
2nd party in the presence of: ) ................................................
) Signature
)
............................................................................. ) ................................................
Signature of Witness ) Name
)
)
)
)
.............................................................................. ) Company Stamp
Name of witness (block letters) )
)
)
)
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