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General Release And Waiver Template for Nigeria

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Key Requirements PROMPT example:

General Release And Waiver

"I need a General Release and Waiver under Nigerian law for an employee leaving our tech company on March 15, 2025, including confidentiality provisions and the return of company property, with consideration of ���2,000,000 as severance payment."

Document background
The General Release and Waiver is a crucial legal instrument in Nigerian business and personal affairs, designed to provide finality to disputes or potential claims between parties. This document is commonly used in situations involving employment separations, settlement of disputes, accident claims, or business transaction closures. It typically includes specific details about the rights being waived, the consideration being provided, and any exceptions to the release. Under Nigerian law, certain fundamental rights cannot be waived, and the document must be carefully drafted to ensure enforceability while complying with local regulations and constitutional provisions. The agreement serves as a risk management tool for businesses and individuals, providing clarity and closure in various legal situations while preventing future litigation on the same matter.
Suggested Sections

1. Parties: Identification of all parties to the agreement, including full legal names and addresses

2. Background: Context of the situation leading to the release and waiver, including any relevant incidents or circumstances

3. Definitions: Clear definitions of key terms used throughout the document, including 'Released Parties', 'Claims', and 'Release Period'

4. Consideration: Details of the consideration being provided in exchange for the release and waiver

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

6. Scope of Release: Clear delineation of what is and isn't covered by the release and waiver

7. Representations and Warranties: Statements by the releasing party about their authority to grant the release and understanding of its implications

8. Non-Admission of Liability: Statement that the agreement does not constitute an admission of liability by any party

9. Governing Law: Specification that Nigerian law governs the agreement and jurisdiction for disputes

10. Entire Agreement: Integration clause stating this document represents the complete agreement between parties

11. Execution: Signature blocks and execution requirements

Optional Sections

1. Confidentiality: Required when the parties wish to keep the existence or terms of the release confidential

2. Return of Property: Used in employment or business relationship contexts where property needs to be returned

3. Non-Disparagement: Optional clause preventing parties from making negative statements about each other

4. Future Cooperation: Used when ongoing cooperation may be needed for legal or administrative matters

5. Tax Implications: Required when the release involves significant monetary consideration or tax consequences

6. Revocation Period: Required in employment-related releases, providing time to revoke acceptance

7. Severability: Optional clause ensuring remainder of agreement stays valid if any part is found unenforceable

8. Dispute Resolution: Optional detailed procedures for resolving any disputes about the release

Suggested Schedules

1. Schedule A - Specific Claims Released: Detailed list of specific claims, causes of action, or rights being released

2. Schedule B - Excluded Claims: List of claims specifically excluded from the release

3. Schedule C - Released Parties: Comprehensive list of all parties benefiting from the release, including affiliated entities

4. Appendix 1 - Related Documents: List of any related agreements or documents referenced in the release

5. Appendix 2 - Property List: If applicable, inventory of property to be returned or transferred

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






























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Relevant Industries

Legal Services

Insurance

Healthcare

Construction

Manufacturing

Real Estate

Financial Services

Education

Transportation

Entertainment

Sports and Recreation

Professional Services

Retail

Technology

Relevant Teams

Legal

Human Resources

Compliance

Risk Management

Corporate Affairs

Operations

Finance

Executive Leadership

Administrative

Insurance

Relevant Roles

Legal Counsel

Human Resources Director

Risk Manager

Compliance Officer

Corporate Secretary

Chief Legal Officer

HR Manager

Business Development Manager

Operations Director

Contract Administrator

Insurance Claims Manager

Settlement Officer

Chief Executive Officer

Chief Financial Officer

General Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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