Mutual Release, Waiver, and Quitclaim - Template Form Pro · PH-law

MUTUAL RELEASE, WAIVER, AND QUITCLAIM

KNOW ALL MEN BY THESE PRESENTS:

This Mutual Release, Waiver, and Quitclaim (the “Quitclaim”) is made and executed this ________ day of ________, 20________, at the City/Municipality of ________, Province of ________, by and between:

________, of legal age, Filipino, with civil status of ________, and with residential address at ________, hereinafter referred to as the “First Party”;

- and -

________, of legal age, Filipino, with civil status of ________, and with residential address at ________, hereinafter referred to as the “Second Party”.

The First Party and the Second Party shall be referred to individually as a “Party” and collectively as the “Parties.”

WITNESSETH: That —

WHEREAS, the Parties have had dealings arising from a certain incident more particularly described below (the “Incident”);

WHEREAS, in order to avoid the inconvenience, uncertainty, and expense of litigation, and pursuant to Articles 2028 to 2046 of the Civil Code of the Philippines on compromise, the Parties have mutually agreed to amicably and finally settle any and all claims arising out of or in connection with the Incident;

NOW, THEREFORE, for and in consideration of the foregoing premises and of the mutual covenants, releases, and undertakings hereinafter set forth, the Parties hereby freely and voluntarily agree as follows:

§ I. DETAILS OF THE INCIDENT

The Incident to which this Quitclaim relates is more particularly described as follows:

________

All disputes, differences, and claims to which this Quitclaim relates arise from or are connected with the said Incident.

§ II. CONSIDERATION AND PAYMENT

II.1. The First Party shall pay the Second Party the sum of ________ PESOS (₱________), Philippine currency, receipt of which in full is hereby acknowledged by the Second Party.

II.2. The Second Party shall pay the First Party the sum of ________ PESOS (₱________), Philippine currency, receipt of which in full is hereby acknowledged by the First Party.

II.3. The sums set forth above shall hereinafter be collectively referred to as the “Payment.”

§ III. SUFFICIENCY OF CONSIDERATION

Both Parties expressly acknowledge and warrant the sufficiency and adequacy of the Payment as full and complete consideration for this Quitclaim.

§ IV. MUTUAL RELEASE, WAIVER, AND QUITCLAIM

In consideration of:

A. the execution of this Quitclaim;

B. each Party’s respective abandonment, waiver, and renunciation of its legal rights, claims, and causes of action arising out of or in connection with the Incident; and

C. the receipt of the Payment;

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§ V. BAR TO FURTHER PROCEEDINGS

The Parties hereby agree that this Quitclaim may be pleaded as a full and complete defense to, and may be used as the basis for an injunction against, any claim, debt, demand, suit, action, or proceeding which has been or may hereafter be filed, prosecuted, or maintained by either Party against the other arising out of or in connection with the Incident.

§ VI. FULL AND FINAL SETTLEMENT

Each Party expressly acknowledges and agrees that this Quitclaim and the Payment constitute the full, final, and complete settlement and satisfaction of any and all claims for losses, injuries, damages, expenses, or otherwise which either Party may have against the other in connection with or arising from the Incident. Each Party covenants that it shall not commence, prosecute, or cause to be commenced or prosecuted any claim, action, or proceeding relating to the Incident against the other Party.

§ VII. NO ADMISSION OF LIABILITY

Nothing contained in this Quitclaim shall be construed as, or constitute, an admission of any fault, liability, or wrongdoing on the part of either Party.

§ VIII. CONFIDENTIALITY AND DATA PRIVACY

VIII.1. The Parties shall keep the terms and provisions of this Quitclaim (the “Details”) strictly confidential.

VIII.2. Notwithstanding the foregoing, a Party may disclose the Details:

A. to its respective legal, financial, or tax advisors (“Advisors”), provided that the disclosing Party first ensures that such Advisors are legally bound to keep the Details confidential on terms at least as onerous as those contained herein; or

B. as otherwise required by law, by lawful order of a court or competent authority, or by requirement of any regulatory authority.

VIII.3. Any personal data disclosed or processed in connection with this Quitclaim shall be collected, used, and retained solely for the purposes herein and in accordance with the Data Privacy Act of 2012 (Republic Act No. 10173), its Implementing Rules and Regulations, and applicable issuances of the National Privacy Commission.

§ IX. LEGAL COSTS AND TAXES

Each Party shall bear its own legal costs and expenses incidental to the negotiation and execution of this Quitclaim. Any taxes, fees, or charges due to the government in connection herewith shall be borne by the Party upon whom the same are legally imposed.

§ X. NOTICES

Any notice or other communication required or permitted under this Quitclaim shall be in writing and shall be deemed duly given if delivered personally, sent by registered mail, or transmitted by electronic mail to the respective addresses of the Parties as set forth above, or to such other address as a Party may designate in writing.

All notices delivered personally shall be deemed received on the date of actual delivery.

All notices sent by registered mail shall be deemed received on the date indicated on the registry return receipt.

All notices transmitted by electronic mail shall be deemed received on the date of transmission, provided that no delivery failure notification is received by the sender.

Either Party may change its address for the purpose of receiving notices by giving written notice of such change to the other Party in accordance with this provision. Failure to provide notice of a change of address shall result in any notice sent to the last known address being deemed validly served.

§ XI. INDEPENDENT LEGAL ADVICE AND VOLUNTARINESS

Each Party acknowledges that it has been afforded the opportunity to obtain independent legal advice regarding this Quitclaim, that it has read and fully understood the terms and provisions hereof, and that it executes this Quitclaim freely, voluntarily, and with full knowledge of its legal effects and consequences, without any force, intimidation, fraud, mistake, or undue influence.

§ XII. ASSIGNMENT

This Quitclaim, or the rights and obligations arising hereunder, may not be assigned, sold, leased, or otherwise transferred, in whole or in part, by either Party without the prior written consent of the other.

§ XIII. SUPPORTING DOCUMENTS AND FURTHER ACTS

The Parties agree to execute such other documents and perform such further acts as may be reasonable and necessary for the proper implementation of this Quitclaim.

§ XIV. APPLICABLE LAW

This Quitclaim shall be governed by and construed in accordance with the laws of the Republic of the Philippines.

§ XV. WAIVER

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§ XVI. COUNTERPARTS

This Quitclaim may be executed in counterparts, all of which together shall constitute one and the same instrument. If the dates indicated at the signatures differ, this Quitclaim shall be considered effective as of the date on which both Parties have signed.

§ XVII. SEVERABILITY

The invalidity or unenforceability of any provision of this Quitclaim shall not affect the validity or enforceability of any other provision. Should any provision be held invalid or unenforceable, the remaining provisions shall continue in full force and effect as if the invalid provision had been omitted.

§ XVIII. CUMULATIVE RIGHTS

The rights of the Parties under this Quitclaim and under the law are cumulative and shall not be construed as exclusive of one another unless otherwise required by law.

§ XIX. HEADINGS

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

§ XX. VENUE OF ACTION

Any action arising out of or by virtue of this Quitclaim shall be instituted exclusively in the proper courts of ________, to the exclusion of all other courts.

§ XXI. SUCCESSORS AND ASSIGNS

This Quitclaim shall be binding upon and inure to the benefit of the heirs, successors, and assigns of both Parties.

§ XXII. ENTIRETY OF AGREEMENT

This Quitclaim constitutes the entire agreement between the Parties and supersedes all prior negotiations, representations, and agreements, whether oral or written, relating to the subject matter hereof.

§ XXIII. AMENDMENTS AND MODIFICATIONS

This Quitclaim may be amended or modified only by a written instrument duly signed by both Parties.

IN WITNESS WHEREOF, the Parties have hereunto affixed their signatures on the date and at the place first above written.

________
First Party

________
Second Party

Signed in the presence of:

________          ________

Witnesses

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES )
PROVINCE OF ________ )
CITY OR MUNICIPALITY OF ________ ) S.S.

BEFORE ME, a Notary Public for and in the City or Municipality of ________, this ________ day of ________, 20________, personally appeared the following persons:

1. ________, with competent evidence of identity consisting of ________ with number ________ which expires on ________; and

2. ________, with competent evidence of identity consisting of ________ with number ________ which expires on ________;

all known to me and to me known to be the same persons who executed the foregoing Mutual Release, Waiver, and Quitclaim consisting of ________ pages, including this page on which this Acknowledgement is written, and they acknowledged to me that the same is their free and voluntary act and deed.

WITNESS MY HAND AND SEAL on the day and at the place first above written.

________
NOTARY PUBLIC

Doc. No. ________;
Page No. ________;
Book No. ________;
Series of ________.