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A release form, sometimes called a waiver, is a legal document prepared by an insurance company in which an accident victim gives up or releases certain legal rights. The purpose of a release is to end or avoid a legal matter and allows all parties to move on.
The release of claims is an agreement between an employer and a worker whose employment has been terminated. Employees typically sign the document in return for a severance package. The release is meant to limit potential litigation for reasons such as discrimination.
This means, if you sign a release from the other driver's car insurance company, you will shield the insurer and its driver from any further legal action arising from the accident. In return, you'll receive a settlement check.
Definition: Release of All Claims It is a document agreeing to resolve the parties' differences, dismiss their claims, and release the opposing parties from liability. Release of all claims forms are also called liability waiver forms.
A release of all claims form is exactly what it sounds like: it is a document that absolves the parties of any liability for an accident. Once this form is signed, it is no longer possible for an injured accident victim to pursue a personal injury claim against the at-fault driver.