The release component of these deeds has the effect of preventing either party from pursuing the other party for any further claim which has been the subject of the dispute.

Where a guarantor wishes to cancel the guarantor’s liabilities under a guarantee earlier than originally agreed, the guarantor may be able to negotiate the early termination of the guarantee with the creditor.

Use this Deed of Release if:

• You would like to bring a dispute between you and another party to an end;
• You would like to prevent either party from pursing the other party for further claims;
• You want to follow all the proper processes in settling a dispute; and
• You would like to have a record of the settlement of a dispute in the event of any legal action.

What does the Deed of Release cover?

• Evidences the settlement deal between the parties;
• Informs the recipient that no further claims in relation to the dispute can be brought in the future; and
• Sets out the relevant settlement payments.

Other names for Deed of Release include:

• Deed of Settlement and Release;
• Waiver Deed;
• Waiver Release Deed; and
• Deed of Wavier and Release.