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:
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.
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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