Release of Liability Template
This document is a release of liability by which a person (the Releasor, as defined below) gives up a right or claim that he could have enforced on another (the Releasee, as defined below) for some compensation.
Releasor: person giving up certain rights and claims he may have and receives some compensation for this
Releasee: person who is being released from liability and pays some compensation to be so released
Witness (if you choose to add one): attests that each party has signed the Release. The Witness should be 18 years or older and of sound mind. The Witness should preferably not have a direct or indirect interest in the Release.
When to Use this Release of Liability Template?
Releases are often signed when parties have settled a lawsuit or a threatened lawsuit, when an employee leaves his employment, among other situations.
This Release of Liability template could be:
- A general release from all rights and claims that a person has against another as of the date of the Release
- A limited release where a person is only released from certain rights or claims that another could have had against him as of the date of the Release
Specifications of this Release of Liability Template
The Releasor and the Releasee can be individuals or corporations. Before completing this form, please collect:
- Name and address of Releasor
- Name of Releasee
- Amount of compensation paid to Releasor
- Determine if the Release should be general or limited
- Determine the matter to which the Release should be limited to (if limited release chosen)
- Determine which country’s and state or provincial law should apply to this release
- Determine if this Release should be witnessed for additional credibility
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