Document background
An Indemnification Waiver is a critical risk management tool used in various business and personal contexts in the Philippines. This document type is particularly relevant when activities or transactions involve inherent risks that one party agrees to assume, releasing the other party from potential liability. The waiver must be drafted in compliance with Philippine civil law, particularly the Civil Code provisions regarding obligations and contracts. The document typically includes clear identification of parties, specific risks or activities covered, duration of the waiver, and acknowledgment of understanding. It's commonly used in recreational activities, professional services, property use, and various business operations where risk transfer is necessary. The Indemnification Waiver must balance the interests of both parties while ensuring enforceability under Philippine law, which generally recognizes such agreements subject to public policy limitations.
