REFUND AND RELEASE Clause Samples
The "Refund and Release" clause establishes the terms under which one party returns funds to another and, in exchange, both parties agree to release each other from further claims related to the transaction. Typically, this clause specifies the amount to be refunded, the timing of the payment, and the scope of the release, which may cover all known and unknown claims arising from the agreement. Its core function is to provide a clear and final resolution to disputes or obligations by ensuring that, once the refund is made, neither party can pursue additional claims related to the matter, thereby promoting closure and certainty.
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REFUND AND RELEASE. Company agrees to issue a partial refund of $1,422.50 to Customer in exchange for Customer’s agreement to a) void the ‘hillside planting’ portion of the Contract with Company b) waive any and all rights to warranty work by the Company in this matter; c) waive, release and hold Company harmless against all known and unknown claims, demands, damages, attorney fees and other costs; d) waive any and all rights to suits, actions, claims with any agencies or other third parties, or against Company’s bond in this matter; and e) not to disparage, defame, or vilify the Company to any other person, agency, reporting agency, or any other third party regarding this matter.