Business Waiver Of Liability

Business Waiver Of Liability Template for Malaysia

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Key Requirements PROMPT example:

"I need a Business Waiver of Liability agreement for my technology consulting company in Malaysia, which will provide software implementation services to enterprise clients starting March 2025, with specific focus on protecting against data migration risks and system integration failures."

Document background

The Business Waiver of Liability agreement is essential for companies operating in Malaysia who wish to manage their risk exposure in business-to-business relationships. This document is typically used when one business provides services, facilities, or activities to another business that involve inherent risks or potential liabilities. The waiver must comply with Malaysian legal requirements, including the Contracts Act 1950 and related commercial laws, while being specific enough to cover the particular business activities involved. It's important to note that this type of waiver is specifically designed for business-to-business relationships and differs from consumer waivers, which are subject to stricter consumer protection regulations. The document typically includes detailed descriptions of the activities covered, specific risks being waived, and any limitations or exceptions to the waiver.

Suggested Sections

1. Parties: Identification of all parties involved, including full legal names, registration numbers, and registered addresses

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

3. Definitions: Clear definitions of key terms used throughout the agreement

4. Scope of Activities: Detailed description of activities, services, or circumstances covered by the waiver

5. Waiver of Liability: Core waiver provisions detailing what liability is being waived and to what extent

6. Limitations of Waiver: Specific circumstances where the waiver does not apply, including non-waivable rights under Malaysian law

7. Representations and Warranties: Statements of fact and promises made by each party regarding their capacity and understanding

8. Indemnification: Provisions for indemnifying the released party against claims

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

10. Governing Law: Specification of Malaysian law as governing law and jurisdiction

11. Execution: Signature blocks and execution requirements

Optional Sections

1. Insurance Requirements: Details of required insurance coverage, used when specific insurance requirements are necessary for the business relationship

2. Dispute Resolution: Specific procedures for handling disputes, including mediation or arbitration, used when parties want to avoid court proceedings

3. Confidentiality: Provisions for handling confidential information, used when sensitive information is shared between parties

4. Force Majeure: Provisions for unforeseen circumstances, used when activities might be affected by external events

5. Assignment: Rights and restrictions regarding transfer of rights under the waiver, used when transfer of rights needs to be controlled

6. Severability: Provisions for maintaining validity if parts are found unenforceable, used in complex business relationships

7. Compliance with Laws: Specific regulatory compliance requirements, used in highly regulated industries

Suggested Schedules

1. Schedule A - Covered Activities: Detailed list and description of specific activities covered by the waiver

2. Schedule B - Specific Risks: Enumeration of specific risks acknowledged and waived by the parties

3. Schedule C - Safety Procedures: Required safety procedures and protocols related to the covered activities

4. Appendix 1 - Insurance Certificates: Copies of required insurance certificates and coverage details

5. Appendix 2 - Company Policies: Relevant company policies referenced in the waiver agreement

Authors

Alex Denne

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

alex.den.21@genieai.co

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