A release of liability (commonly referred to as a liability waiver or an exculpatory agreement) given or signed by a prospective participant in a potentially dangerous activity in favor of the company providing access to the activity. This liability waiver is intended to protect the company against liability for claims of illness, injury, or death resulting from the customer participating in a potentially dangerous or hazardous activity. It contains a waiver of potential claims, covenant not to sue, an acknowledgment of assumption of risk, and an acknowledgment of voluntary participation, as well as an optional indemnification. This Standard Document has integrated notes with important explanations and drafting tips.