The Property Damage Waiver serves as a critical risk management tool in Philippine business and property transactions. This document is essential when parties need to establish clear boundaries of liability for potential property damage, typically used in rental agreements, event venues, construction projects, or service contracts. The waiver, governed by Philippine civil law, specifically outlines which party assumes responsibility for various types of property damage, under what circumstances, and for what duration. It includes detailed property descriptions, conditions of the waiver, and specific exclusions. Property Damage Waivers are particularly important in scenarios where temporary use or access to property is granted, or when services are performed that could potentially result in property damage. The document must comply with Philippine consumer protection laws and cannot waive rights protected by public policy.
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1. Parties: Identifies and provides full details of all parties to the waiver agreement, including their legal capacity to enter into the agreement
2. Background: Explains the context and purpose of the waiver, including the relationship between the parties
3. Definitions: Defines key terms used throughout the document, including 'Property', 'Damage', and 'Waiver'
4. Property Description: Detailed description of the property covered by the waiver, including its location and relevant identifying features
5. Scope of Waiver: Clearly outlines what types of damage are covered by the waiver and any specific exclusions
6. Duration: Specifies the time period during which the waiver is effective
7. Representations and Warranties: Statements by both parties regarding their authority to enter into the agreement and the condition of the property
8. Indemnification: Details the extent to which parties agree to indemnify each other from claims related to the property damage
9. Governing Law: Specifies that Philippine law governs the agreement and its interpretation
10. Execution: Signature block and execution requirements
1. Insurance Provisions: Used when the waiver needs to address how it interacts with existing insurance policies
2. Third Party Rights: Include when there are other parties who might have rights or interests in the property
3. Dispute Resolution: Optional section detailing specific dispute resolution procedures, particularly useful for high-value properties
4. Force Majeure: Include when certain types of damage due to extraordinary events need to be specifically addressed
5. Severability: Include in more complex agreements to ensure partial invalidity doesn't void the entire waiver
6. Assignment: Include when there's a possibility that rights under the waiver may need to be transferred
7. Notices: Include when formal communication procedures between parties need to be established
1. Schedule A - Property Details: Detailed inventory and description of the property, including photographs and condition reports
2. Schedule B - Excluded Damages: Specific list of types of damage not covered by the waiver
3. Schedule C - Insurance Certificates: Copies of relevant insurance certificates and coverage details
4. Appendix 1 - Property Inspection Report: Pre-waiver inspection report documenting the condition of the property
5. Appendix 2 - Authority Documents: Supporting documents proving the parties' authority to enter into the agreement
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