Document background
The Waiver Acknowledgement Letter is a crucial legal instrument commonly used in Hong Kong business and legal practice when a party needs to formally surrender certain rights or claims. This document type is particularly relevant in situations involving contract modifications, dispute resolutions, or settlement agreements. It serves to protect both parties by clearly documenting the scope of the waiver and the waiving party's informed consent. Under Hong Kong law, which follows common law principles, such waivers must be explicit and unambiguous to be enforceable. The document typically includes details of the rights being waived, any consideration provided, and confirmations that the waiving party understands the implications of their decision. It's essential in preventing future disputes and providing clear evidence of the parties' intentions at the time of waiver.
