Financial Hardship Waiver Form

Financial Hardship Waiver Form Template for Nigeria

Create a bespoke document in minutes, or upload and review your own.

4.6 / 5

4.8 / 5

Let's create your Financial Hardship Waiver Form

1. Select your governing law and document type:

2. Enter your key requirements:

3. Create your document to edit, review or download

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

"I need a Financial Hardship Waiver Form for a small business in Lagos that has experienced a 60% revenue decline, to request a 6-month payment relief from our bank starting March 2025, with an option for extension based on business recovery progress."

Document background

The Financial Hardship Waiver Form serves as a critical tool in the Nigerian financial services sector, designed to provide a standardized process for individuals and businesses experiencing financial difficulties to seek relief from their financial obligations. This document is typically used when borrowers face unexpected circumstances affecting their ability to meet payment obligations, such as job loss, medical emergencies, business downturns, or other significant financial setbacks. The form aligns with Central Bank of Nigeria (CBN) regulations, the Banks and Other Financial Institutions Act (BOFIA) 2020, and relevant consumer protection frameworks. It requires comprehensive financial disclosure, including current income, expenses, assets, and liabilities, along with supporting documentation to validate the hardship claim. The document is structured to facilitate fair assessment of hardship claims while protecting both the interests of financial institutions and their customers' rights under Nigerian law.

Suggested Sections

1. Parties: Identification of the applicant (person experiencing hardship) and the financial institution/creditor

2. Background: Brief context of the existing financial obligation and relationship between the parties

3. Definitions: Clear definitions of key terms used in the form, including 'financial hardship', 'waiver', 'temporary relief', etc.

4. Nature of Hardship: Detailed description of the financial hardship being experienced, including when it began and expected duration

5. Current Financial Position: Declaration of current income, expenses, assets, and liabilities

6. Supporting Documentation: List of required documentation being submitted to support the hardship claim

7. Requested Relief: Specific details of the relief being requested (payment reduction, temporary suspension, etc.)

8. Declaration of Truth: Applicant's declaration that all information provided is true and accurate

9. Authorization: Consent for the financial institution to verify information provided

10. Acknowledgment: Applicant's acknowledgment of understanding the terms and implications of the waiver

Optional Sections

1. Third Party Authorization: Authorization for a third party to act on behalf of the applicant, used when the applicant has appointed a financial counselor or legal representative

2. Previous Arrangements: Details of any previous hardship arrangements or waivers, included when there is relevant history

3. Business Impact Statement: For business-related hardship, details of how the hardship has affected the business operations

4. Recovery Plan: Applicant's proposed plan to overcome the hardship, included for long-term or severe hardship cases

5. Additional Support Services: Information about financial counseling and support services, included when required by institutional policy

Suggested Schedules

1. Schedule A - Income and Expenses Statement: Detailed breakdown of current income sources and monthly expenses

2. Schedule B - Assets and Liabilities Statement: Comprehensive list of all assets owned and debts owed

3. Schedule C - Supporting Documents Checklist: Checklist of required and submitted supporting documents

4. Appendix 1 - Proof of Hardship Guidelines: Guidelines on acceptable forms of evidence for different types of hardship

5. Appendix 2 - Terms and Conditions: Standard terms and conditions applicable to the hardship waiver

6. Appendix 3 - Privacy Statement: Statement on how the applicant's personal and financial information will be used and protected

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

Banking

Financial Services

Microfinance

Insurance

Mortgage Services

Consumer Lending

Commercial Lending

Debt Collection

Legal Services

Financial Advisory

Relevant Teams

Legal

Credit Assessment

Collections

Customer Service

Risk Management

Compliance

Operations

Account Management

Debt Recovery

Customer Relations

Financial Advisory

Relevant Roles

Credit Manager

Loan Officer

Collections Officer

Financial Advisor

Customer Service Representative

Branch Manager

Risk Assessment Officer

Compliance Officer

Legal Counsel

Financial Hardship Specialist

Account Manager

Debt Recovery Officer

Customer Relations Manager

Banking Operations Manager

Credit Risk Analyst

Find the exact document you need

Liability Consent Form

A Nigerian law-compliant document establishing informed consent and liability waiver between organizations and participants for specific activities or services.

tiktok���˰�

How tiktok���˰� reduced drafting time by 75% for a legal firm

Let's create your Financial Hardship Waiver Form

Authors

Alex Denne

Find the exact document you need

Liability Consent Form

Personal Training Waiver And Release Form

Financial Hardship Waiver Form

Hair Salon Waiver Form

Release Of Indemnity

Non Profit Volunteer Waiver Form

Liability Form

Accident Liability Waiver Form

Damage Waiver Form

Basic Liability Waiver

Vehicle Accident Release Of Liability Form

Event Participation Waiver Form

Automobile Release Of Liability Form

Sports Liability Waiver Form

Release Of Liability Waiver

Participation Waiver

General Liability Waiver Form

Equipment Liability Waiver Form

Business Liability Waiver Form

Accident Waiver Form

Waiver And Release

Food Liability Waiver Form

Accident Waiver And Release Of Liability

Gymnastics Waiver Form

Passenger Liability Waiver Form

Legal Release Of Liability Form

Non Liability Form

Employee Waiver Of Liability Form

Volunteer Waiver Form

Pool Liability Waiver

Responsibility Waiver Agreement

Gym Waiver And Release Form

Waiver Of Liability And Hold Harmless Agreement

Indemnity Waiver Form

Vehicle Release Of Liability Form

Accident Waiver And Release Of Liability Form

Activity Waiver And Release Form

General Release Of Liability Form

Download our whitepaper on the future of AI in Legal

�ұ�Ծ���’s Security Promise

Your documents are private:

Your documents are protected:

Organizational security

Innovation in privacy:

Want to know more?

Use Cases

tiktok��˰�

How tiktok��˰� reduced drafting time by 75% for a legal firm

�ұ�Ծ��’s Security Promise