Release, Waiver, and Quitclaim (One-Way) - Form

RELEASE, WAIVER, AND QUITCLAIM

KNOW ALL MEN BY THESE PRESENTS:

I, ________, of legal age, Filipino, ________, holder of ________ with identification number ________, and with residential address at ________ (hereinafter referred to as the "Releasor"), after having been duly sworn to in accordance with law, do hereby depose, state, and undertake as follows:

1. Acknowledgment of Consideration. I hereby acknowledge to have received from ________, of ________, with address at ________ (hereinafter referred to as the "Releasee"), the total sum of ________ Philippine Pesos (₱________) (the "Consideration"), receipt of which in full is hereby acknowledged to my entire and complete satisfaction;

2. Sufficiency of Consideration. I acknowledge and confirm the reasonableness, adequacy, and sufficiency of the Consideration as the sole and entire consideration for this Release, Waiver, and Quitclaim;

3. Full and Final Settlement. I voluntarily accept the Consideration as a full, final, and complete settlement, compromise, and satisfaction, pursuant to Articles 2028 to 2046 of the Civil Code of the Philippines (Republic Act No. 386) on compromises, of any and all claims for losses, damages, injuries, expenses, or otherwise that may arise from or in connection with the following transaction (the "Transaction"):

________;

4. Release and Waiver. In consideration of the foregoing, I hereby remise, release, quitclaim, waive, and forever discharge, fully, unconditionally, and irrevocably, the Releasee and/or their respective officers, directors, stockholders, employees, agents, representatives, assigns, and successors-in-interest, from any and all causes of action, sums of money, claims, demands, accounts, liabilities, obligations, and damages whatsoever, whether in law, contract, quasi-contract, tort, or equity, whether past, present, or contingent, liquidated or unliquidated, known or unknown, which I, or my heirs, successors-in-interest, representatives, and assigns had, have, or may hereafter have against the Releasee in connection with or arising from the Transaction;

5. Covenant Not to Sue. I undertake that I shall not file, nor cause to be filed, any legal action, complaint, or claim in connection with or arising from the Transaction before any office, board, bureau, commission, court, tribunal, or agency against the Releasee and/or their agents, representatives, assigns, and successors-in-interest; and any and all such actions already commenced, whether solely in my name or jointly with others, are hereby deemed voluntarily withdrawn, and neither I nor my heirs, successors-in-interest, representatives, and assigns will further participate, testify, prosecute, or provide any evidence in said action;

6. Non-Participation. I shall likewise not participate, testify, provide any evidence, or in any way assist in any and all actions or complaints in connection with or arising from the Transaction before any office, board, bureau, commission, court, tribunal, or agency against the Releasee and/or their agents, representatives, assigns, and successors-in-interest;

7. No Admission of Wrongdoing. I acknowledge that this Release, Waiver, and Quitclaim shall not be construed as an admission of any wrongdoing by the Releasee in relation to me or to any other person or entity;

8. No Admission of Liability. I likewise acknowledge that this Release, Waiver, and Quitclaim shall not be construed as an admission of liability or responsibility by the Releasee, nor shall it be deemed to indicate that I have any actionable right against the Releasee;

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10. Severability. Should any provision of this Release, Waiver, and Quitclaim be declared invalid, illegal, or unenforceable, the remaining provisions shall continue in full force and effect;

11. Governing Law. This Release, Waiver, and Quitclaim shall be governed by and construed in accordance with the laws of the Republic of the Philippines, and any dispute arising herefrom shall be brought exclusively before the competent courts of ________;

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IN WITNESS WHEREOF, I have hereunto set my hand this ________ day of ________, 20________ at ________.

________
Releasor

SIGNED IN THE PRESENCE OF:

________        ________

REPUBLIC OF THE PHILIPPINES     )
________ ) S.S.

BEFORE ME, a Notary Public for and in ________, this ________ day of ________, 20________, personally appeared ________, who exhibited to me the following competent evidence of identity: ________ with identification number ________ issued on ________ at ________, known to me and to me known to be the same person who executed the foregoing Release, Waiver, and Quitclaim, consisting of ________ pages, including this page on which the acknowledgment is written, and they acknowledged to me that the same is their free and voluntary act and deed.

WITNESS MY HAND AND SEAL on the day and place first above written.

________
NOTARY PUBLIC

Doc. No.: ________
Page No.: ________
Book No.: ________
Series of ________.