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Release Constituting Accord and Satisfaction between Employer and...

Release Constituting Accord and Satisfaction between Employer and Executive Employee Pursuant to Severance Agreement

Category:

Employment - Releases

State:

Multi-State

Control #:

US-03925BG

Format:

Instant download

Description

A contract is usually discharged by performance of the terms of the agreement. A contract may be discharged pursuant to a provision in the contract or by a subsequent agreement. For example, there may be a discharge by the terms of the original contract when it says it will end on a certain date. There may be a mutual cancellation when both parties agree to end their contract. There may be a mutual rescission when both parties agree to annul the contract and return to their original positions as if the contract had never been made. This would require returning any consideration (e.g., money) that had changed hands.

Other examples of discharge by agreement are:

• accord and satisfaction;

• a release; and

• a waiver.

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How to fill out Release Constituting Accord And Satisfaction Between Employer And Executive Employee Pursuant To Severance Agreement?

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FAQ

An ACORD certificate is proof that you have the amount and kind of liability insurance the client requires for the project. An ACORD certificate may also be requested by a bank or mortgage company for a property they hold the mortgage on, or by an equipment leasing company when they lease equipment for a project.

There is an important distinction between this form and ACORD 27 Evidence of Property Insurance or ACORD 28 Evidence of Commercial Property Insurance.When the property is insured under a large limit commercial lines policy and the lender requires specific detailed coverage information, use form 28.

ACORD 28, Evidence of Commercial Property Insurance, provides a coverage statement for mortgagees, additional insureds and loss payees who provide mortgages or loans on real property or business personal property insured under a Commercial Lines policy, and are named in the policy.

The Acord 25 form, also known as a certificate of insurance (COI), is a type of liability insurance certificate that represents the contractual agreements between the insured clients and the insurance agencies.

The one-page ACORD certificate of insurance summarizes essential information about your insurance policy, such as coverage types, policy numbers, insurance limits, and effective and expiration dates. As a small business owner, your clients may ask you to provide an ACORD certificate of insurance, or COI.

ACORD 25, Certificate ofLiability Insurance, is issued as a matter of information only, and confers no rights upon the certificate holder.If the receiver of the form wants to verify that liability coverage exists on a policy and has no direct interest in the policy, use the certificate of insurance.

ACORD 23, Vehicle or Equipment Certificate of Insurance, is issued as a matter of information ony and confers no rights upon the certificate holder.Vehicle(s) may be defined as motor-vehicle, highway vehicles, non-highway vehicles, on-road vehicles, and/or off-road vehicles.

ACORD 24, Certificate of Property Insurance.When the property is insured under a Commercial Lines policy with a large limit and the lender requires specific detailed coverage information, use ACORD 28, Evidence of Commercial Property Insurance.