Release And Waiver Of Liability And Indemnity Agreement Template for Malaysia

The Release And Waiver Of Liability And Indemnity Agreement is essential for organizations operating in Malaysia that need to manage risk exposure while providing services or facilitating activities that carry inherent risks. This document, governed by Malaysian law, serves multiple purposes: it clearly communicates potential risks to participants, establishes legally binding waivers of liability, and creates indemnification obligations. The agreement is particularly crucial in situations involving physical activities, professional services, or any scenario where participants need to acknowledge and accept certain risks. It must comply with Malaysian legal requirements, including the Contracts Act 1950 and Consumer Protection Act 1999, while providing comprehensive protection for all parties involved. The document is structured to be clear, unambiguous, and enforceable under Malaysian jurisdiction, making it a vital tool for risk management and legal compliance.

1. Parties: Identification and details of all parties involved in the agreement, including the releasor (person giving up rights) and releasee (person being protected)

2. Background: Context of the agreement, including the activity or relationship giving rise to the need for the waiver

3. Definitions: Key terms used throughout the agreement, including 'Released Parties', 'Claims', 'Liability', and 'Indemnified Matters'

4. Acknowledgment of Risks: Clear statement of risks associated with the activity or circumstance being waived

5. Waiver and Release: Core section detailing the specific rights being waived and claims being released

6. Indemnification: Terms under which the releasor agrees to indemnify and hold harmless the released parties

7. Duration and Survival: Period for which the waiver remains effective and which provisions survive termination

8. Governing Law and Jurisdiction: Specification of Malaysian law as governing law and jurisdiction for disputes

9. Severability: Provision ensuring remainder of agreement stays in effect if any portion is found invalid

10. Entire Agreement: Confirmation that the document represents the complete agreement between parties