Profit Release Of Liability
Profit Release Of Liability
I. Release of Liability
This agreement ("Release") is entered into on [Date] between [Your Name], hereinafter referred to as the "Releasor", and [Your Company Name], located at [Your Company Address], hereinafter referred to as the "Releasee".
II. Conduct of Activities
The Releasor acknowledges and agrees that the activities conducted by the Releasee are not without their inherent risks which may result in property damage, injury, or loss of profits. These risks may include but are not limited to
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Physical injury such as sprains, strains, fractures, or bruises.
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Accidents or collisions with equipment or other participants.
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Weather-related hazards such as extreme temperatures, lightning, or inclement weather conditions.
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Equipment malfunction or failure.
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Unforeseen environmental hazards such as uneven terrain, wildlife encounters, or natural disasters.
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Health-related issues such as exhaustion, dehydration, or allergic reactions.
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Risks associated with transportation to and from activity locations.
III. Assumption of Risk
The individual who is known as the Releasor is in complete understanding of all potential risks involved in the process or arrangement being agreed upon. This Releasor is completely cognizant of the possibility that there may be incidents of injury, experiences of loss, or cases of damage that could occur. Not only is the Releasor aware of these risks, but the Releasor also makes an express, explicit agreement to accept all of these inherent risks. To further confirm this understanding and agreement, the Releasor provides a signature below this statement which serves as a thorough verification of this comprehension and consent.
IV. Release and Waiver
The release and Waiver section outlines an important legal agreement between the Releasor and [Your Company Name]. In this section, the Releasor is essentially relinquishing their right to hold [Your Company Name] or its associates and partners liable for any potential damages or losses that may occur in the future as a result of participating in the activities specified in section II of the agreement.
By signing this release and waiver, the Releasor is acknowledging that they understand the risks associated with the activities outlined in section II and agree not to hold [Your Company Name] or its associates and partners responsible for any harm or loss that may occur.
This clause is designed to protect [Your Company Name] from potential legal action or liability in case of any accidents, injuries, or damages that may arise during the mentioned activities. It's a standard practice in many agreements involving potentially risky activities to ensure that participants understand and accept the inherent dangers involved and agree not to hold the organizing party responsible for any unfortunate outcomes.
V. Indemnity Agreement
Releasor further agrees to indemnify and hold harmless Releasee from all claims arising as a result of Releasor's engagement in the activities, or any activities incidental thereto, wherever, whenever, or however the same may occur.
VI. Governing Law
This Release shall be governed by and interpreted by the laws of [State]
VII. Entire Agreement
This Release represents the complete understanding between the parties regarding these issues and no oral representations, statements, or inducements have been made apart from this Agreement.
Releasor’s Signature:
[Your Name]
[Date Signed]
Releasee’s Signature:
[Your Company Name]
[Date Signed]
Witness’s Signature (if applicable):
[Witness’s Name]
[Date Signed]
