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Simple Waiver
"I need a Simple Waiver for our construction company to waive delay penalties against our subcontractor for the period January-March 2025, in exchange for them providing additional services at no cost."
1. Parties: Identifies the parties giving and receiving the waiver
2. Background: Explains the context and circumstances leading to the waiver
3. Definitions: Defines key terms used in the waiver
4. Waiver Statement: Clear statement of what rights are being waived
5. Duration: Period for which the waiver applies
6. Execution: Signature blocks and execution formalities
1. Consideration: Details of any consideration given for the waiver - include when there is payment or other consideration for the waiver
2. Conditions: Any conditions attached to the waiver - include when the waiver is subject to specific conditions
3. Reservations: Rights specifically reserved by the waiving party - include when certain rights are being retained
4. Third Party Rights: Treatment of third party rights - include when third parties might be affected by the waiver
1. Rights Being Waived: Detailed list of specific rights being waived
2. Related Agreements: List of agreements affected by the waiver
3. Supporting Documents: Any relevant supporting documentation referenced in the waiver
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