Release
An agreement or legal step that frees a party from an obligation, claim, guarantee or security, subject to the terms of the release.
Related terms
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Release from guarantee
A written agreement by the creditor that the guarantor is no longer bound by some or all obligations under the guarantee.
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Waiver
A voluntary decision by a party not to enforce a particular right, condition or amount, either temporarily or permanently depending on the wording.
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Settlement agreement
A written agreement recording the terms on which a debt or dispute is resolved, including payment and any release of further claims.
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