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Deed Of Waiver And Release

Deed Of Waiver And Release Template for Philippines

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Key Requirements PROMPT example:

Deed Of Waiver And Release

"I need a Deed of Waiver and Release for a construction dispute settlement where ABC Construction Corp. waives all claims against XYZ Development Inc. relating to the delayed completion of the Makati Tower Project, in exchange for a settlement payment of 5 million pesos to be paid by March 15, 2025."

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Document background
The Deed of Waiver and Release is a crucial legal instrument in Philippine jurisprudence, commonly used in various business and personal transactions where parties need to formally relinquish certain rights or claims. This document is particularly relevant in settlement agreements, property transactions, corporate restructuring, and employment matters. It must be drafted in compliance with the Civil Code of the Philippines and requires proper execution, including notarization, to be legally binding. The deed typically outlines the specific rights being waived, any consideration provided, and relevant conditions. It's essential in providing legal certainty and finality to transactions, preventing future disputes over the waived rights. The document should be carefully drafted to ensure it accurately reflects the parties' intentions and includes all necessary legal safeguards under Philippine law.
Suggested Sections

1. Parties: Identifies and provides complete details of all parties to the deed, including their legal capacity and addresses

2. Background: Sets out the context and circumstances leading to the waiver, including any relevant prior agreements or disputes

3. Definitions: Defines key terms used throughout the deed for clarity and legal certainty

4. Subject Matter of Waiver: Clearly identifies and describes the rights, claims, or interests being waived

5. Waiver and Release: Contains the operative words of waiver and release, explicitly stating what rights are being given up

6. Representations and Warranties: Statements by the waiving party confirming their authority, understanding, and voluntary execution of the waiver

7. Acknowledgment: Confirms the party's understanding of the consequences of the waiver and that they received consideration (if applicable)

8. Governing Law: Specifies that Philippine law governs the deed

9. Execution: Formal execution block including notarial acknowledgment as required under Philippine law

Optional Sections

1. Consideration: Details any payment or consideration given in exchange for the waiver - include if the waiver is not gratuitous

2. Conditions: Any conditions that must be met for the waiver to become or remain effective - include if the waiver is conditional

3. Reservation of Rights: Specifies any rights that are specifically retained - include if certain rights are being preserved

4. Confidentiality: Provisions regarding confidentiality of the waiver and its terms - include if confidentiality is required

5. Non-Admission: Statement that the waiver does not constitute admission of liability - include in dispute resolution contexts

6. Severability: Provides for survival of remaining provisions if any provision is found invalid - include in complex waivers

7. Further Assurance: Obligation to execute additional documents if needed - include for complex transactions

Suggested Schedules

1. Schedule of Waived Rights: Detailed list of specific rights, claims, or interests being waived

2. Schedule of Assets: Description of any specific properties or assets affected by the waiver

3. Schedule of Related Agreements: List of any related agreements or documents referenced in the waiver

4. Schedule of Consideration: Details of any consideration or payment terms, if applicable

5. Powers of Attorney: If any party is signing through an attorney-in-fact, attach the relevant power of attorney

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Real Estate

Banking and Finance

Construction

Manufacturing

Insurance

Healthcare

Technology

Energy

Mining

Retail

Transportation

Education

Professional Services

Entertainment

Relevant Teams

Legal

Compliance

Human Resources

Risk Management

Corporate Secretariat

Business Development

Operations

Finance

Property Management

Project Management

Relevant Roles

Legal Counsel

Corporate Secretary

Compliance Officer

Risk Manager

Human Resources Director

Property Manager

Contract Administrator

Business Development Manager

Chief Executive Officer

Chief Financial Officer

Operations Manager

Project Manager

Estate Administrator

Settlement Officer

Legal Assistant

Industries
Civil Code of the Philippines (Republic Act No. 386): Primary law governing contracts, obligations, and property rights in the Philippines. Particularly relevant are Book IV on Obligations and Contracts, and provisions on formalities of contracts.
Property Registration Decree (Presidential Decree No. 1529): Governs the registration of real property and interests therein, including waivers affecting real property rights.
Notarial Law of 2004 (Republic Act No. 2103): Provides requirements for the proper execution and notarization of documents, including deeds and other public instruments.
1987 Philippine Constitution, Article III (Bill of Rights): Contains provisions protecting property rights and due process, which must be considered when drafting waivers of rights.
Rules of Court: Provides rules on evidence and authentication of documents, which may be relevant if the deed needs to be presented in legal proceedings.
Corporation Code of the Philippines (Republic Act No. 11232): Relevant if any party to the deed is a corporation, particularly regarding authority to execute documents and corporate formalities.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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