The Product Liability Release serves as a risk management tool for businesses operating in New Zealand's commercial environment. It is typically used when introducing new products to the market, particularly those with inherent risks or specific usage requirements. The document helps define the boundaries of liability while ensuring compliance with New Zealand's consumer protection laws, including the Consumer Guarantees Act 1993 and Fair Trading Act 1986. It's essential when businesses need to clearly communicate product risks to users and establish agreed-upon limitations of liability, while maintaining mandatory consumer protections. The release includes comprehensive details about the product, known risks, usage instructions, and warranty terms, making it a crucial document for both liability protection and risk communication.
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1. Parties: Identification of the parties: the releasing party (typically the customer/user) and the released party (typically the manufacturer/supplier)
2. Background: Context of the relationship between parties, description of the product, and purpose of the release
3. Definitions: Key terms used in the agreement, including 'Product', 'Liability', 'Claims', and 'Release'
4. Scope of Release: Detailed description of what liabilities are being released, with clear boundaries and limitations
5. Acknowledgment of Risks: Statement of the risks associated with the product that the releasing party acknowledges and accepts
6. Statutory Rights: Clear statement about statutory rights that cannot be excluded under NZ law, particularly regarding Consumer Guarantees Act
7. Representations and Warranties: Statements about the condition of the product and any warranties that remain in effect
8. Duration: Period for which the release remains effective
9. Governing Law: Specification of New Zealand law as governing law and jurisdiction
10. Execution: Signature blocks and execution requirements
1. Indemnification: Optional clause where the releasing party agrees to indemnify the released party against third-party claims - used in higher-risk situations
2. Insurance: Details of any insurance requirements - included when specific insurance coverage is relevant to the release
3. Severability: Clause ensuring survival of remaining provisions if any provision is found invalid - used in more complex agreements
4. Assignment: Restrictions on transfer of rights under the release - included when assignment rights need to be controlled
5. Dispute Resolution: Specific procedures for handling disputes - included when alternative dispute resolution is preferred
6. Third Party Rights: Provisions regarding rights of third parties under the release - used when third party interests need protection
1. Product Description Schedule: Detailed description of the product(s) covered by the release, including specifications and serial numbers
2. Risk Disclosure Schedule: Comprehensive list of known risks and hazards associated with the product
3. Warranty Terms Schedule: Details of any remaining warranty terms and conditions that survive the release
4. Usage Instructions: Proper usage guidelines and safety instructions for the product
5. Incident Reporting Procedure: Procedures for reporting any incidents or issues with the product
Relevant legal definitions
Agreement
Product
Liability
Claims
Loss
Release
Releasing Party
Released Party
Effective Date
Consumer Guarantees
Statutory Rights
Warranties
Material Defect
Ordinary Use
Intended Purpose
Safety Instructions
Known Risks
Consequential Loss
Force Majeure
Intellectual Property Rights
Confidential Information
Associated Entities
Representatives
Specifications
Territory
Term
Governing Law
Consumer
Business Day
Defect
Product
Liability
Claims
Loss
Release
Releasing Party
Released Party
Effective Date
Consumer Guarantees
Statutory Rights
Warranties
Material Defect
Ordinary Use
Intended Purpose
Safety Instructions
Known Risks
Consequential Loss
Force Majeure
Intellectual Property Rights
Confidential Information
Associated Entities
Representatives
Specifications
Territory
Term
Governing Law
Consumer
Business Day
Defect
Clauses
Interpretation
Release of Liability
Scope of Release
Risk Acknowledgment
Statutory Rights Preservation
Product Use
Warranty Limitations
Safety Compliance
Indemnification
Insurance
Consumer Protection
Representations and Warranties
Limitation of Liability
Dispute Resolution
Governing Law
Force Majeure
Severability
Assignment
Entire Agreement
Third Party Rights
Notice Requirements
Amendment
Waiver
Survival
Execution
Release of Liability
Scope of Release
Risk Acknowledgment
Statutory Rights Preservation
Product Use
Warranty Limitations
Safety Compliance
Indemnification
Insurance
Consumer Protection
Representations and Warranties
Limitation of Liability
Dispute Resolution
Governing Law
Force Majeure
Severability
Assignment
Entire Agreement
Third Party Rights
Notice Requirements
Amendment
Waiver
Survival
Execution
Relevant Industries
Manufacturing
Retail
Consumer Goods
Industrial Equipment
Medical Devices
Automotive
Electronics
Sporting Goods
Food and Beverage
Construction Equipment
Agricultural Equipment
Chemical Products
Pharmaceutical
Relevant Teams
Legal
Risk Management
Compliance
Product Development
Quality Assurance
Operations
Sales
Customer Service
Executive Leadership
Product Management
Research and Development
Corporate Affairs
Safety and Regulations
Relevant Roles
Legal Counsel
Product Manager
Risk Manager
Compliance Officer
Chief Legal Officer
Chief Risk Officer
Quality Assurance Manager
Operations Manager
Safety Officer
Contract Manager
Business Development Manager
Chief Executive Officer
Product Development Manager
Sales Director
Customer Service Manager
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