Document background
The Contractor Waiver And Release Form is a critical document in Nigerian business and construction practice, typically used upon completion of project milestones or final payment to a contractor. It serves as a formal legal instrument under Nigerian law to document the contractor's receipt of payment and their agreement to waive any future claims related to the work performed. This document is particularly important in scenarios where significant contractor work has been completed and parties wish to achieve clear closure on their obligations and potential liabilities. The form helps prevent future disputes by clearly documenting the settlement of accounts and release of claims, while ensuring compliance with Nigerian contract law and industry regulations. It's commonly used in construction, development, and various commercial projects where contractor services are essential.
