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Letter of Waiver Fill out the template

Letter of Waiver

Last revision
Last revision 03/12/2018
Formats
Formats Word and PDF
Size
Size 1 page
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Last revision: 03/12/2018

Size: 1 page

Available formats: Word and PDF

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Letter of Waiver

A Letter of Waiver is a letter that is used to verify that someone has waived one of their rights or that one party's obligation has been waived. The essence of this document is to relieve the other party from liability which may result in the failure to fulfill their obligation or right of another.

This document can be used for various situations, however, it has provided some forms of waiver which include:

  • Waiver of right to the required notice of meeting of a company: Directors and members of companies occasionally hold meetings and the law requires that these meetings may not be valid except the company secretary circulates a notice of meeting at least 21 days before the meeting or the directors/members agree to a shorter notice. This letter enables parties (such as the directors, or members as the case may be) to waive their right to such required notice (21 days notice) thus relieving the company from any liability.
  • Waiver of preemptive rights of the members of a company: Ordinarily members of a company may be entitled to the right of preemption which is the right to be offered shares first before same is transferred or sold to a non member. However, one or more of the members of a company may choose to waive such right. This document enables the members of a company to waive such right of preemption.
  • Waiver of right to sue or claim damages: This is a form of waiver wherein one party voluntarily waives or surrenders its right or privilege to sue or claim damages. This only applies to civil actions and not criminal matters as they are prosecuted by the State or Federal Government. It can apply in several situations, such as waiving a right to sue in the event of personal injury, accident, property damage, repayment of loans etc. This is a form of an agreement.

Note that once a party has consented to waive its right voluntarily, such a party can no longer claim that right.

How to use this document

This document can be used for a party that intends to waive or forgo his or her rights. After filling this form, the sender of this document must sign and send same to the recipient. If the sender of this document is a company, either 2 (two) directors or 1 (one) director and 1 (one) company secretary will sign the document on behalf of the company. Both parties should keep at least one copy each for record purposes.


Applicable laws

The general rules of contract are applicable to this document. For waiver of required notice and preemptive rights of the members of a company, the Companies and Allied Matters Act is applicable.


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