Compensation or release agreement (finiquito)
It's the document that records the final payment closing a relationship, whether employment, commercial or contractual, and that the parties are fully settled. It protects the paying party from later claims and gives the receiving party clarity. Widely used when an employment relationship ends.
Requesting a quote doesn't commit you to anything
- You tell us about your case. It's free.
- We send you the price in writing, within 1 to 3 hours.
- You decide. If it works for you, we start. If not, you delete it with one click and pay nothing.
No one will pressure you. Your information is used only for your case.
Is it for you?
If any of these sounds like you, this procedure is for you.
- For the party who pays and wants proof they met their obligation, so they don't risk facing the same claim again, typically an employer at the end of an employment relationship
- For the party receiving a final payment who wants a record of what they were paid
- For anyone closing a commercial relationship, a contract or a debt who wants to leave everything fully settled
What's included and what isn't
Everything clear from the start. No fine print.
Includes
- Review of the relationship being closed and the items to be paid.
- Drafting of the release detailing what was paid, the items and the scope of what's closed, respecting any non-waivable rights that apply.
- Coordination of the notary appointment.
- Support during the notarial authentication of the signatures.
Does not include
- Calculating the prestaciones sociales or the compensation, which the company or its accountant provides; we can give guidance.
- It can NOT waive non-waivable labor rights.
- The official notary fee, which is paid separately based on the number of pages.
Add to your procedure
Check it and we include it in your quote. You decide at the end.
What you need
Check off what you already have. You don't need everything to request your quote.
You have 0 of 5.
- The parties' details, cédula (Venezuelan national ID card) or RIF (Venezuelan tax ID)
- Details of what's being paid and for which items
- The relationship being closed, whether employment, commercial or contractual
- And the amount of the compensation or final settlement
- The parties sign in person before the notary
How the process works
You do very little. We take care of the rest. The whole process: on average, 2 to 3 business days.
- Step 1
Tell us what you're closing
You tell us which relationship you're closing and what's being paid.
You do this - Step 2
We draft it
We prepare the release detailing what was paid and what's closed, taking care of non-waivable rights.
We do this - Step 3
You sign
We book the appointment, confirm the cost, and the parties sign before the notary.
You do this - Result
Done
We hand you the authenticated release, with its fecha cierta.
You receive it
We draft the document detailing what was paid and what's being closed, the parties review it and we coordinate the signing before the notary, a public official.
What it costs and how to pay
There are two separate payments, and we want you to see them clearly.
Our fee: we do all the work for you.
The official notary fee. It goes straight to the agency, and we give you the exact amount, with its receipt, before you pay anything.
How you pay: You pay once, when we start. In dollars, in bolívares at the official BCV exchange rate, or with Cashea.
How is your investment calculated?
Your investment has two parts, and we tell you about each one separately. Our base professional fee, from $60, to draft the release and handle its authentication
The official notary fee, which varies with the number of pages. Official amounts are paid in bolívares at the official Central Bank (BCV) exchange rate Your lawyer gives you the exact figure before you pay anything, no strings attached.
FAQ
What happens if I close a payment agreement without a release?
You pay, but nothing stops the other party from claiming the same thing from you later. The release is proof that the matter was closed.
Does it close everything in labor matters?
No. There are non-waivable rights that a release can't erase, which is why it has to be drafted carefully.
How much does it cost?
The professional fee, from $60, covers drafting and authentication; the notary fee is separate.
Does it protect the paying party?
Yes, that's its main purpose, and it works for any relationship being closed, not just employment.
Is it authenticated?
Yes, which gives it a fecha cierta and evidentiary weight.
About this procedure
A compensation or release agreement (finiquito) is the document that formally closes a relationship between two parties, recording that the corresponding final payment was made and that, with it, they're fully settled. It's the final word that keeps a matter already resolved from being reopened. Its most common use is at the end of an employment relationship: the release records that the prestaciones sociales (severance benefits accrued by law) and other items were paid, protecting the employer against future claims and giving the employee clarity about what they received. But it's also used when closing commercial relationships, ending a services agreement, settling a debt or paying compensation for damage. The key is in the drafting: you have to detail what's being paid and for which items, and state clearly what's closed and waived, always within what the law allows, because in labor matters, for example, there are non-waivable rights that a release can't erase. We draft it with that care, distinguishing what can be closed from what can't, and authenticate it before the notary to give it a fecha cierta and evidentiary weight. A good release is insurance against future claims.
Legal framework and important notes
Ley de Registros y Notarías (Registries and Notaries Law) · Código Civil (Civil Code) · Ley Orgánica del Trabajo (LOTTT, Venezuela's labor law)
- The release is your proof that you paid and closed the matter; without it, a settled matter can be reopened
- But be careful with labor matters. Not everything can be waived, and a release that tries to erase non-waivable rights can be challenged; that's why we draft it distinguishing what can be closed
- Detailing the items paid is what gives it strength
We guarantee our service, not what the agency decides. If something depends on them, we tell you clearly and in time.
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