The role of liability waivers can hardly be overestimated. Its main function is to inform people who use the services of companies that they have certain risks and need to be extremely careful.
The waiver of liability like PandaWaiver is beneficial for both the company and the clients because they better understand their own rights and responsibilities, as well as all the possible risks. Due to mutual responsibility and vigilance, the probability of preventing accidents increases.
Liability Waiver: Writing Stages
A liability waiver form may have some differences depending on the field of activity. However, as a rule, it has a generally accepted form, which consists of a number of items
1. Warning. The introductory part should point out to the participants that the document should be carefully studied. To attract attention, it is recommended to highlight the text with a bold typeface.
2. Possible Risks. The document should clearly indicate all the possible risks associated with the services provided or other activities. Clients should be fully aware of the risks that may arise before they take part in the event. They should also be aware that the company will not be able to cover their expenses in the event of an accident.
3. Acceptance of all risks is voluntary. The release from liability template must contain a clause stating that the party accepts all terms and conditions voluntarily and is aware of all possible risks.
4. The release from liability. It’s quite an important component, which should be clear and well-defined. It should say that the company will not be held financially responsible for the possible should an accident occur.
5. Compensation for loss. This clause states that the signatory accepts the terms and agrees to pay the expected costs of defense in the event a lawsuit is filed.
6. Legal Basis. This is especially relevant to activities that take place in more than one location or where traveling is involved. It is important to be specific about the region where the waiver is applicable.
A release of liability form is legally binding, and its execution consists of certain steps. They mainly depend on the services provided by the company and the risks associated with them. In general, the process consists of several steps:
7. Researching industry standards. Here it is important to analyze the documents used by competitors working in the same field.
8. Knowledge of legislation. Knowledge of the legal framework is important for the competent drafting of the document. Before you start drafting, you need to familiarize yourself with the current legislation, so that the generated document can be enforced.
9. Assistance of a lawyer. It is difficult to draw up a document on your own, especially if you are not well-versed in the legislation. There is a risk of not taking into account many important nuances. Therefore, it is highly recommended to seek the help of qualified lawyers to draft a strong document in a legally competent way. They are able to accurately and clearly articulate the legal provisions, which will guarantee the document’s legal force in the courts. It is possible to use ready-made templates that are posted on the Internet, however, the result will not have the same effect. It is a good idea to have a lawyer look through such a template and make the necessary revisions. In this way, it is possible to develop a template, including the one generated by waiver software, for any activity.
10. Voluntary Signature. Once the document is fully elaborated, when it is ready to be used, it is important to ensure that each party has enough time to read and sign it voluntarily.
Most of the time, waivers are written by lawyers. This is the ultimate guarantee that a company will use a strong and effective document in its activities to be protected against possible litigation. If a company wants to save money, it is possible to use a template from the Internet. However, it is also recommended to show it to a lawyer. Saving money, in this case, is not reasonable because the quality and legal literacy of the document affects the future of your business, including the long-term perspective. This is a task with a focus on the long-term protection of your company.