If your company’s products and services pose the slightest risks, then you should take care to have a special liability waiver form. A liability waiver document will help to avoid disputes between the company and its employees and clients. However, for the document to be legally valid, it is important to have specific elements in it.
What is waiver of liability?
A liability waiver, also known as a release of liability, is a legal contract informing a party of the possible risks associated with a certain activity. Once this document is signed, the party has no right to start a claim against the company in the case of damage or loss. In fact, all responsibility for any form of damage falls on the customer.
Release of liability form is a standard procedure for companies and businesses whose activities involve all kinds of risks. For example, if a company offers private horseback riding lessons, it is advisable to provide clients with a release of liability document before the client climbs on a horse. The participant, client or employee who signs the document fully assumes all risks and agrees with the company’s waiver of liability for hypothetical risks.
Benefits of using a liability waiver
Using a liability waiver form allows a company to protect its rights from lawsuits and subsequent compensation payments. The firm receives a level of protection that can preserve the company’s profits and reputation by avoiding unnecessary litigation.
For example, if a company specializes in managing practice areas where clients come to play tennis or other active games, the participants are exposed to a hypothetical risk. Players can slip and fall on the grass, injure each other by accident with a company-issued device, and so on. The advantage of the issuance release from liability template before the game is that the company is not liable for any damage that is caused to the client. The organization is legally protected in the case that the client is harmed while using the goods or services.
Liability Waiver Template – How to Write
Writing a liability waiver template has its own nuances that must be taken into account. In the process of writing a document about the organization’s waiver of liability, it is necessary to adhere to a certain algorithm:
- Identify all hypothetical risks that are associated with the company’s activities.
- Generate a list of all interested parties that influence the risks.
- Consider all possible future threats that may arise.
- Keep insurance policies in one place.
- Determine what country laws will be involved in a denial.
- Get an initial consultation with company lawyers and bring your notes to the meeting.
- Get the first liability waiver template and agree to it.
- Use the final contract for clients to sign the liability waiver.
- Keep copies of the signed waiver and other evidentiary materials.
The provisions that are included in the document must be governed by the laws of the country. The process of forming the basic regulations of the contract will help to avoid mistakes and legal inaccuracies.
How to choose waiver software
To get a legally strong release agreement, it is important to include the necessary information on the waiver form. The liability waiver forms may vary, depending on the company’s products and services on offer and the scope of the business. However, it is possible to note the elements common for most forms and their impact on the value on the document:
- A caution to participants – a form that informs you about the importance of this document. It is often highlighted and located at the top of the document.
- Activity risks – A description of the risks associated with the services and activities that are provided by the company.
- Voluntary Acceptance of Risks – A statement in which the client is fully notified of the risks, is aware of the hypothetical risks, and accepts them.
- Release Caution – a clear statement of the company’s release of liability in the event of physical injury to the client while using the company’s services or products. The main part of the document.
At the end of the liability waiver form, a space is provided for the client’s signature. The user’s signature indicates that he has studied the form and agrees to the terms of the waiver. To simplify the process of the contract, you can use special software to create an electronic signature. For example, PandaDoc allows you to legally sign a liability waiver form in a remote format.