Property Damage Liability Waiver

Property Damage Liability Waiver Template for Malaysia

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Key Requirements PROMPT example:

"I need a Property Damage Liability Waiver for my commercial warehouse space in Kuala Lumpur, which will be used by multiple logistics companies starting March 2025, with specific provisions for heavy machinery operation and loading dock activities."

Document background

The Property Damage Liability Waiver is essential in Malaysian business operations where parties need to clearly define and allocate risks related to potential property damage. This document is commonly used in scenarios involving property access, usage, or maintenance, where one party wishes to limit their liability for potential damage to another's property. Governed by Malaysian law, particularly the Contracts Act 1950 and Civil Law Act 1956, the waiver outlines specific terms under which liability is released, conditions for enforcement, and any exceptions. It's particularly relevant in property management, construction, and facility operations contexts, where clear risk allocation is crucial for business operations. The document includes details about the property involved, the scope of the waiver, duration, and specific circumstances under which it applies.

Suggested Sections

1. Parties: Identification and details of all parties involved in the waiver agreement

2. Background: Context of the agreement, relationship between parties, and purpose of the waiver

3. Definitions: Clear definitions of key terms used throughout the document, including 'Property', 'Damage', and 'Liability'

4. Scope of Waiver: Detailed description of what types of property damage are covered by the waiver

5. Waiver and Release: Core section containing the actual waiver language and release of liability

6. Representations and Warranties: Statements by both parties regarding their understanding of the waiver and capacity to enter into it

7. Duration: Period for which the waiver remains valid and effective

8. Governing Law: Specification that Malaysian law governs the agreement and jurisdiction details

9. Entire Agreement: Clause stating that this document represents the complete agreement between parties

10. Execution: Signature blocks and execution requirements

Optional Sections

1. Insurance: Include when specifying requirements for insurance coverage by either party

2. Indemnification: Add when one party agrees to indemnify the other for certain types of claims or damages

3. Severability: Include when there's a need to ensure remaining provisions stay valid if some are found unenforceable

4. Assignment: Add when there's a need to address whether rights under the waiver can be assigned to others

5. Dispute Resolution: Include when parties want to specify alternative dispute resolution methods before litigation

6. Modification: Add when parties need to specify how the waiver can be modified or amended

7. Force Majeure: Include when needing to address liability in cases of extraordinary events beyond parties' control

Suggested Schedules

1. Schedule A - Property Description: Detailed description of the property covered by the waiver

2. Schedule B - Excluded Damages: List of specific types of damage not covered by the waiver

3. Schedule C - Specific Activities: List of activities or circumstances under which the waiver applies

4. Appendix 1 - Property Photographs: Visual documentation of property condition at time of waiver execution

5. Appendix 2 - Insurance Certificates: Copies of relevant insurance documentation if referenced in the agreement

Authors

Alex Denne

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Property Management

Construction

Events and Entertainment

Facilities Management

Hospitality

Retail

Industrial Manufacturing

Warehousing and Storage

Commercial Office Space

Relevant Teams

Legal

Operations

Facilities Management

Risk Management

Property Management

Compliance

Real Estate

Asset Management

Contract Administration

Maintenance

Relevant Roles

Property Manager

Facility Manager

Operations Director

Risk Manager

Legal Counsel

Contract Administrator

Estate Manager

Building Superintendent

Operations Manager

Asset Manager

Compliance Officer

Real Estate Manager

Maintenance Supervisor

Property Administrator

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