Document background
The One Time Waiver is a specialized legal instrument used in Pakistani business and legal practice when a party needs to formally relinquish specific rights or claims on a one-off basis. This document is particularly useful in situations where parties need to resolve specific disputes, modify existing obligations, or create exceptions to contractual requirements without permanently altering the underlying agreement. Operating under Pakistani law, it must comply with the Contract Act 1872 and related legislation, while considering both common law and Islamic law principles. The document typically includes detailed identification of parties, explicit description of the rights being waived, consideration (if any), and clear language establishing the singular nature of the waiver. It's commonly used in various business contexts, from financial transactions to commercial disputes, and requires careful drafting to ensure enforceability and prevent unintended consequences.
