Contractor Waiver And Release Form Template for Nigeria

A comprehensive legal document governed by Nigerian law that facilitates the formal release of claims and rights by a contractor against a client or project owner. This document serves as a legal acknowledgment that the contractor has received agreed-upon payment for services rendered and waives their right to make future claims related to the specified work or project period. The form incorporates relevant provisions of Nigerian contract law and construction regulations, ensuring compliance with local legal requirements while providing clear documentation of the settlement and release of potential claims.

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What is a Contractor Waiver And Release Form?

The Contractor Waiver And Release Form is a critical document in Nigerian business and construction practice, typically used upon completion of project milestones or final payment to a contractor. It serves as a formal legal instrument under Nigerian law to document the contractor's receipt of payment and their agreement to waive any future claims related to the work performed. This document is particularly important in scenarios where significant contractor work has been completed and parties wish to achieve clear closure on their obligations and potential liabilities. The form helps prevent future disputes by clearly documenting the settlement of accounts and release of claims, while ensuring compliance with Nigerian contract law and industry regulations. It's commonly used in construction, development, and various commercial projects where contractor services are essential.

What sections should be included in a Contractor Waiver And Release Form?

1. Parties: Identification of the contractor and the party receiving the release, including full legal names, addresses, and registration numbers if applicable

2. Background: Brief description of the project or work performed, reference to the original contract, and context for the waiver

3. Definitions: Definition of key terms used in the document, including 'Work', 'Claims', 'Payment', and 'Release Period'

4. Acknowledgment of Payment: Confirmation of the amount received or to be received as consideration for the release

5. Scope of Release: Detailed description of what claims, rights, and demands are being waived

6. Representations and Warranties: Contractor's confirmation that they have authority to grant the release and that all subcontractors have been paid

7. Reservation of Rights: Description of any rights specifically reserved or excluded from the release

8. Governing Law and Jurisdiction: Specification that Nigerian law governs the agreement and designation of jurisdiction for disputes

9. Execution: Signature blocks, witness requirements, and date of execution

What sections are optional to include in a Contractor Waiver And Release Form?

1. Conditional Release Provisions: Used when the release is conditional upon certain events or payment clearance

2. Subcontractor Releases: Include when the contractor needs to confirm that all subcontractors have also provided releases

3. Indemnification: Additional indemnification provisions for specific risks or circumstances

4. Future Claims: Specific provisions dealing with potential future claims, used in final releases

5. Insurance Provisions: Reference to insurance coverage and claims, used when insurance is a significant factor

6. Dispute Resolution: Alternative dispute resolution procedures, used for high-value or complex projects

What schedules should be included in a Contractor Waiver And Release Form?

1. Schedule A - Payment Details: Detailed breakdown of payments received or to be received

2. Schedule B - Project Scope: Detailed description of the work performed under the original contract

3. Schedule C - Outstanding Claims List: List of any specifically excluded or reserved claims

4. Appendix 1 - Related Contracts: List of all relevant contracts and agreements being released

5. Appendix 2 - Subcontractor Confirmations: Copies of confirmations from subcontractors regarding payment receipt

Authors

Alex Denne

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

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Unconditional Waiver Form

A Nigerian law-governed document facilitating the unconditional waiver of rights or claims between parties, with comprehensive protection mechanisms and compliance with local regulations.

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Generate a Bespoke Document

Download a Standard Contractor Waiver And Release Form

Review your own Contractor Waiver And Release Form

What is a Contractor Waiver And Release Form?

What sections should be included in a Contractor Waiver And Release Form?

What sections are optional to include in a Contractor Waiver And Release Form?

What schedules should be included in a Contractor Waiver And Release Form?

Authors

Alex Denne

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