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Theft Waiver Template for Hong Kong

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Key Requirements PROMPT example:

Theft Waiver

"I need a Theft Waiver agreement for my construction equipment rental business in Hong Kong, covering equipment valued up to HKD 500,000 per item, with specific provisions for on-site security requirements and a claims process that requires police reports within 24 hours of discovery."

Document background
This document is essential for businesses operating in Hong Kong that involve temporary transfer or possession of valuable property. The Theft Waiver serves as a risk management instrument that protects both providers and users by clearly defining responsibilities and coverage in theft-related incidents. It is commonly used in rental agreements, equipment leasing, and similar arrangements where temporary possession of assets is involved. The document must comply with Hong Kong's legal framework, including the Theft Ordinance (Cap. 210) and Contract Law, while providing clear terms for coverage, exclusions, and claim procedures. It's particularly relevant in today's sharing economy and rental-based business models, where clear allocation of risk and responsibility is crucial.
Suggested Sections

1. Parties: Identification of the waiver provider and the protected party/parties

2. Background: Context of the waiver agreement and its relationship to any main agreement (e.g., rental agreement)

3. Definitions: Key terms used throughout the document including 'theft', 'covered property', 'claim period', etc.

4. Scope of Coverage: Detailed description of what items and circumstances are covered under the waiver

5. Waiver Terms: Specific conditions under which the waiver will apply and the provider will waive claims against the protected party

6. Exclusions: Specific circumstances, actions, or types of theft that are not covered by the waiver

7. Claims Procedure: Process for reporting theft and making claims under the waiver

8. Fees and Payments: Cost of the waiver and payment terms if applicable

9. Duration and Termination: Period of coverage and circumstances for termination

10. General Provisions: Standard contractual terms including governing law, notices, and amendment procedures

Optional Sections

1. Special Value Items: Additional terms for high-value items requiring specific declaration or treatment

2. International Coverage: Terms specific to theft occurring outside Hong Kong, if applicable

3. Security Requirements: Specific security measures that must be maintained for the waiver to be valid

4. Insurance Coordination: Terms regarding coordination with other insurance policies

5. Additional Services: Any additional services provided alongside the theft waiver (e.g., security consultation)

6. Force Majeure: Terms dealing with extraordinary circumstances affecting the waiver coverage

Suggested Schedules

1. Schedule 1 - Covered Property: Detailed list or categories of property covered by the waiver

2. Schedule 2 - Fee Schedule: Detailed breakdown of fees and charges if applicable

3. Schedule 3 - Claim Forms: Standard forms and documentation required for making a claim

4. Appendix A - Security Guidelines: Recommended or required security measures for maintaining waiver validity

5. Appendix B - Excluded Items: Comprehensive list of items or situations explicitly excluded from coverage

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 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

Equipment Rental

Real Estate

Retail

Hospitality

Storage and Warehousing

Transportation and Logistics

Electronics and Technology

Event Management

Construction

Shared Workspace

Luxury Goods

Vehicle Leasing

Relevant Teams

Legal

Risk Management

Operations

Compliance

Customer Service

Claims Processing

Asset Management

Contract Administration

Security

Business Development

Relevant Roles

Risk Manager

Legal Counsel

Compliance Officer

Operations Manager

Rental Operations Director

Asset Manager

Contract Administrator

Claims Manager

Customer Service Manager

Business Development Manager

Property Manager

Fleet Manager

Security Manager

Facilities Manager

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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