3rd Party Release Form for Nigeria

3rd Party Release Form Template for Nigeria

A comprehensive legal document governed by Nigerian law that facilitates the release of claims, rights, or obligations by one party (the Releasor) in favor of another party (the Releasee) and specified third parties. This document incorporates essential elements required under Nigerian contract law, including clear consideration, capacity to contract, and voluntary execution requirements. It provides legal protection by preventing future claims related to specified incidents or circumstances, while ensuring compliance with Nigerian civil code and consumer protection regulations. The document includes proper witness provisions and authentication requirements as mandated by Nigerian law.

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What is a 3rd Party Release Form?

The 3rd Party Release Form is a crucial legal instrument used in Nigerian business and personal transactions where one party wishes to release claims or rights against another party and extend this release to specified third parties. This document is commonly used in settlement agreements, accident cases, business transactions, or any situation where potential liability needs to be addressed and released. The form must comply with Nigerian contract law requirements, including proper execution before witnesses and clear specification of consideration. It's particularly important in scenarios involving multiple stakeholders or complex liability chains, where the release needs to extend beyond the immediate parties to the agreement. The document typically includes detailed descriptions of released claims, identification of all benefiting parties, and specific acknowledgments required under Nigerian law to ensure enforceability.

What sections should be included in a 3rd Party Release Form?

1. Parties: Identification of all parties involved: the Releasor (person giving the release), Releasee (person being released), and any relevant third parties

2. Background: Brief context of the situation leading to the release, including any relevant incidents or circumstances

3. Definitions: Key terms used in the release form, including 'Claims', 'Released Parties', and any specific terms relevant to the situation

4. Release and Discharge: Core section detailing the specific claims, rights, or actions being released

5. Consideration: Statement of the consideration being provided in exchange for the release

6. Acknowledgments: Confirmations by the releasor regarding understanding of rights being waived and voluntary nature of execution

7. Governing Law: Specification that Nigerian law governs the release form

8. Execution: Signature blocks and execution requirements including witness provisions

What sections are optional to include in a 3rd Party Release Form?

1. Confidentiality: Optional section when the release involves sensitive information that should remain confidential

2. Non-Disparagement: Optional clause preventing parties from making negative statements about each other

3. Future Claims: Optional section specifically addressing potential future claims that may arise

4. Severability: Optional clause ensuring remainder of release remains valid if any portion is found unenforceable

5. Insurance Rights: Optional section preserving or waiving insurance rights related to the released claims

6. Return of Property: Optional section when physical items or documents need to be returned as part of the release

What schedules should be included in a 3rd Party Release Form?

1. Schedule A - Description of Claims: Detailed list of specific claims, incidents, or rights being released

2. Schedule B - Released Parties: Comprehensive list of all parties benefiting from the release, including affiliated entities if applicable

3. Appendix 1 - Supporting Documents: Copies of relevant documents referenced in the release (e.g., incident reports, previous agreements)

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Free to use

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Info Release Form

A Nigerian law-compliant document authorizing the controlled release of information between parties, incorporating NDPR requirements and data protection principles.

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What is a 3rd Party Release Form?

What sections should be included in a 3rd Party Release Form?

What sections are optional to include in a 3rd Party Release Form?

What schedules should be included in a 3rd Party Release Form?

Authors

Alex Denne

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