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A Release of Liability Form is a document that protects a party against future legal claims that could be made in case of an accident, damages, or loss of money. A Release of Liability Form includes 2 parties. Releasor: This is the party that is releasing the other party.
Include party and contact details: Add your name and contact details as well as the other party's full name and contact information clarifying who is the releasor and who is the releasee. Mention the accident: Cite the time of the accident and that the releasee will be released from legal obligations.
This form, sometimes called a liability waiver, states that you accept the amount that the insurer is paying you, and that you agree not to pursue any more claims against the at-fault driver or their insurer.
Once you sign the release form, it releases the at-fault driver and their auto insurer from any future liability associated with the accident. You will no longer have the right to make additional accident claims or bring an accident lawsuit against them.
The liability release form, also known as the waiver form, contains a legally binding agreement between two parties, stating that one of them (the releasor) promises not to sue the other side (the releasee) for past, current, or future damages, losses, or injuries.