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Typically, the company offers some type of payment (often called a severance) in exchange for a waiver and release of claims. The agreement may offer other beneficial terms to the employee, such as continued healthcare benefits, a neutral reference, and services to help find a new job.
A Release Agreement, also sometimes called a Release Form or a Waiver, is a document that is used when one party needs to release the other from liability - in other words, Release Agreements are normally signed after there has been some sort of incident that damages one party (the damage can be physical or financial
Yes, there are many situations where a waiver or release of liability will need to be notarized. A public notary will have to certify that the identities of the individuals in the document are true and correct. This is important for making sure that each party has entered into this agreement voluntarily.
A release form, or general release form, is a legal document that serves as consent in writing to release the legal liability of a releasee by a releasor. The document is a formal acknowledgment that, once signed, is a legal release of all a releasee obligations within an agreement.