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Waiver Agreement Template for India

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Key Requirements PROMPT example:

Waiver Agreement

"I need a Waiver Agreement under Indian law for an employee waiving their rights to pursue any claims relating to their employment period from January 2025 to March 2025, in exchange for a settlement payment of ₹500,000."

Document background
A Waiver Agreement is a crucial legal instrument used in Indian business and legal practice when one party wishes to formally surrender certain rights, claims, or privileges in favor of another party. This type of agreement is commonly used in various contexts, including settlement of disputes, modification of contractual obligations, or release of liability. The document must be drafted in compliance with Indian contract law principles, particularly the Indian Contract Act, 1872, ensuring that the waiver is supported by consideration and made with free consent. The agreement should clearly identify the rights being waived, any conditions attached to the waiver, and include necessary safeguards to protect both parties' interests. It's essential to ensure the waiver doesn't contravene any statutory provisions or public policy under Indian law.
Suggested Sections

1. Parties: Identifies and defines all parties to the waiver agreement, including their legal status and contact details

2. Background: Provides context for the waiver, including the relationship between parties and the circumstances leading to the waiver

3. Definitions: Defines key terms used in the agreement for clarity and precision

4. Waiver Declaration: Clear and unambiguous statement of the rights, claims, or interests being waived

5. Scope of Waiver: Detailed description of what is included and excluded from the waiver

6. Consideration: Details of any consideration provided in exchange for the waiver

7. Representations and Warranties: Statements by the waiving party confirming their authority and understanding of the waiver

8. Duration: Period for which the waiver remains effective

9. Governing Law: Specifies Indian law as the governing law and relevant jurisdiction

10. Execution: Signature blocks and execution formalities

Optional Sections

1. Conditions Precedent: Used when the waiver is conditional upon certain events or actions occurring

2. Regulatory Compliance: Include when the waiver relates to regulated activities or requires regulatory approvals

3. Confidentiality: Required when the waiver involves sensitive information or trade secrets

4. Dispute Resolution: Include detailed dispute resolution procedures for complex waivers or high-value matters

5. Severability: Include when there's a risk that parts of the waiver might be found invalid

6. Notice Provisions: Include when ongoing communications between parties are necessary

7. Third Party Rights: Include when the waiver affects rights of parties not directly involved in the agreement

8. Indemnification: Include when one party needs protection against future claims related to the waived rights

Suggested Schedules

1. Schedule 1 - Rights Being Waived: Detailed description of all rights, claims, or interests being waived

2. Schedule 2 - Related Agreements: List and details of any related agreements affected by the waiver

3. Schedule 3 - Supporting Documents: Copies of relevant correspondence, notices, or documents referenced in the waiver

4. Schedule 4 - Corporate Authorizations: Copies of board resolutions or other corporate authorizations (if parties are companies)

5. Appendix A - Consent Forms: Standard forms for obtaining any required third-party consents

6. Appendix B - Notice Templates: Templates for any notices required under the agreement

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions





























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Relevant Industries

Legal Services

Financial Services

Insurance

Real Estate

Healthcare

Manufacturing

Construction

Sports and Recreation

Education

Technology

Entertainment

Retail

Professional Services

Transportation

Relevant Teams

Legal

Compliance

Risk Management

Human Resources

Corporate Secretarial

Operations

Business Development

Contract Administration

Claims Processing

Dispute Resolution

Relevant Roles

Legal Counsel

Corporate Lawyer

Compliance Officer

Risk Manager

Contract Manager

Business Development Manager

Human Resources Director

Chief Legal Officer

Company Secretary

Operations Manager

Project Manager

Claims Manager

Insurance Underwriter

Property Manager

Settlement Officer

Industries






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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