Partial Waiver And Release Of Claims For Payment

Partial Waiver And Release Of Claims For Payment Template for Philippines

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Key Requirements PROMPT example:

"I need a Partial Waiver and Release of Claims for Payment for our construction company in Manila, releasing payment claims up to March 2025 for completed foundation work while retaining rights for future phases and potential defect claims."

Document background

The Partial Waiver And Release Of Claims For Payment is essential in Philippine business transactions where parties seek to resolve specific claims while maintaining others. This document is commonly used in situations involving progress payments, partial settlements, or phased completion of projects. It must comply with Philippine legal requirements, including the Civil Code of the Philippines and relevant commercial laws. The document typically includes specific details about the payment received, precisely identifies which claims are being waived, and explicitly states which claims are being preserved. It's particularly valuable in construction projects, commercial transactions, and service agreements where partial or progressive payments are common. The document helps prevent future disputes by clearly documenting the parties' agreement regarding released and retained claims, while ensuring that the partial nature of the waiver is unambiguously expressed.

Suggested Sections

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

2. Background: Context of the original agreement, relationship between parties, and circumstances leading to this partial waiver

3. Definitions: Key terms used in the document, including 'Payment Amount', 'Released Claims', 'Retained Claims', and other relevant definitions

4. Payment Acknowledgment: Acknowledgment of the payment amount received or to be received, including payment details and timing

5. Released Claims: Detailed description of the specific claims, rights, and causes of action being waived and released

6. Retained Claims: Express identification of claims and rights that are specifically preserved and not waived

7. Representations and Warranties: Statements confirming authority to execute the waiver, understanding of rights being waived, and voluntary nature of the release

8. Governing Law: Specification that Philippine law governs the waiver and its interpretation

9. Execution: Signature blocks, notarization requirements, and execution date

Optional Sections

1. Consideration: Detailed section about the consideration provided, used when the payment structure is complex or involves multiple components

2. Confidentiality: Terms regarding confidentiality of the waiver and payment terms, included when parties wish to maintain privacy

3. No Admission of Liability: Statement that the payment and waiver do not constitute admission of liability, used in dispute resolution contexts

4. Future Cooperation: Terms regarding ongoing obligations or cooperation between parties, included when future interaction is anticipated

5. Tax Implications: Statements regarding tax treatment of payments and responsibilities, included when tax considerations are significant

6. Severability: Provision addressing the enforceability of remaining terms if any part is found invalid, used in more complex agreements

7. Amendment Process: Procedures for modifying the waiver, included when parties anticipate possible future changes

Suggested Schedules

1. Schedule A - Payment Details: Detailed breakdown of payment amounts, payment schedule, and method of payment

2. Schedule B - Specific Released Claims: Itemized list of specific claims, demands, or rights being released

3. Schedule C - Retained Rights: Detailed list of specific rights and claims being retained

4. Appendix 1 - Related Agreements: List of relevant underlying agreements or contracts referenced in the waiver

5. Appendix 2 - Supporting Documents: Copies of relevant supporting documentation, such as proof of payment or original claim documents

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

Relevant legal definitions

Clauses

Relevant Industries

Construction

Real Estate

Manufacturing

Professional Services

Financial Services

Technology

Healthcare

Retail

Energy

Transportation and Logistics

Mining

Agriculture

Insurance

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Relevant Teams

Legal

Finance

Procurement

Operations

Risk Management

Compliance

Accounts Payable

Project Management

Commercial

Contract Administration

Corporate Secretariat

Relevant Roles

Legal Counsel

Contract Manager

Project Manager

Finance Director

Chief Financial Officer

Risk Manager

Claims Administrator

Commercial Director

Construction Manager

Procurement Manager

Accounts Payable Manager

Corporate Secretary

Compliance Officer

Business Development Manager

Operations Manager

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