The Waiver Contract (Verzichtserklärung) is a crucial legal instrument under Austrian law used to formally document the voluntary relinquishment of rights, claims, or legal positions. This document is particularly important in various business and personal contexts, including settlement of disputes, risk management, and commercial transactions. It must be drafted in compliance with Austrian legal requirements, particularly the Austrian Civil Code (ABGB) and relevant consumer protection laws. The document is commonly used in scenarios involving settlement of claims, release of liabilities, or modification of contractual obligations. Special attention must be paid to the specificity of the waiver, as Austrian law requires clear and unambiguous expression of the rights being waived and the parties' intentions.
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1. Parties: Identification of all parties involved in the waiver agreement, including full legal names, addresses, and registration details for legal entities
2. Background: Context of the waiver, including relevant history of the relationship between parties and circumstances leading to the waiver
3. Definitions: Clear definitions of key terms used in the waiver agreement to ensure precise interpretation
4. Subject Matter of Waiver: Detailed description of the specific rights, claims, or interests being waived, with precise reference to underlying circumstances or agreements
5. Scope of Waiver: Clear delineation of the extent of the waiver, including temporal and substantive limitations
6. Acknowledgments: Express acknowledgments by the waiving party regarding understanding of rights being waived and consequences
7. Consideration: Details of any consideration provided in exchange for the waiver, if applicable
8. Legal Declarations: Mandatory declarations required under Austrian law, including confirmation of legal advice if required
9. Governing Law and Jurisdiction: Explicit statement of Austrian law as governing law and designation of competent courts
1. Severability: Clause addressing the survival of remaining provisions if any part is found invalid - recommended for complex waivers
2. Third Party Rights: Section addressing whether third parties have any rights under the waiver - needed if third party interests are affected
3. Reservations: Any specific rights or claims explicitly reserved and not waived - include when certain rights need to be preserved
4. Confidentiality: Provisions regarding confidentiality of the waiver and its terms - relevant for sensitive commercial matters
5. Related Agreements: Reference to and interaction with other agreements - needed when waiver affects other contractual relationships
6. Data Protection: Specific provisions regarding personal data processing - required if personal data is involved
7. Language: Specification of prevailing language version - needed for bilingual or multilingual versions
1. Schedule 1 - Waived Claims: Detailed list of specific claims or rights being waived, particularly useful for complex waivers
2. Schedule 2 - Related Agreements: List of agreements affected by or relevant to the waiver
3. Schedule 3 - Supporting Documents: Copies of relevant documents referenced in the waiver
4. Appendix A - Power of Attorney: If applicable, authorization documents for representatives signing the waiver
5. Appendix B - Corporate Resolutions: If applicable, corporate authorizations for entering into the waiver
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