Deed of Release and WaiverThis Deed of Release and Waiver is for the purpose of releasing one party from its contractual obligations and liabilities and waiving rights to enforce the same. It is not intended to apply in any employment context.
This Deed of Release and Waiver is for the purpose of releasing one party from its contractual obligations and liabilities and waiving rights to enforce the same. It assumes there is an existing agreement between two businesses and one wishes to release the other from some (or all) of its liabilities and obligations under that agreement and to waive any rights it may have against that party for its non-compliance.
What's the difference between a release and a waiver?
“Release” and “waiver” can have different meanings. In this precedent, a “release” relieves one party of its obligations and liabilities and a “waiver” occurs when one party gives up its rights to take action or enforce its rights under a contract against the other party. The distinction between a release and a waiver is that the latter is more usually confined to situations where one party is in breach of an obligation. This precedent should not be confused with a waiver clause, the aim of which is that, if a party fails to take action in respect of a breach, it does not lose its rights to take action in respect of the instant breach or any subsequent breaches. A waiver clause will typically make it clear that any failure or delay in exercising a right under the agreement will not constitute a waiver of that right.
This Deed is not intended to apply in any employment context. For a deed of release applicable to the termination of an employment relationship, see:
Other names for Deed of Release and Waiver include:
Release and Waiver