Later Discovery Clause Samples
The Later Discovery clause establishes how parties should handle situations where new information or facts relevant to the agreement are discovered after the contract has been executed. Typically, this clause outlines the obligations of the parties to disclose such information promptly and may specify procedures for addressing the impact of these discoveries, such as renegotiating terms or providing remedies. Its core practical function is to ensure transparency and fairness by allowing the contract to adapt to material facts that were unknown at the time of signing, thereby reducing the risk of disputes arising from unforeseen circumstances.
Later Discovery. The parties are aware that they may hereafter discover claims or facts in addition to or different from those they now know or believe to be true with respect to the matters related herein. Nevertheless, it is the intention of the parties that EMPLOYEE fully, finally and forever settle and release all such matters, and all claims relative thereto, which do now exist, may exist or have previously existed against THE CITY or THE CITY PARTIES. In furtherance of such intention, the releases given here shall be, and remain, in effect as full and complete releases of all such matters, notwithstanding the discovery or existence of any additional or different claims or facts relative thereto.