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DEED OF WAIVER - DIRECTOR LOAN

A deed of waiver to be signed by a lender in order to waive the indebtedness of a borrower.

 

This Deed of Waiver – Director’s Loan can be used where the lender is either the company having lent money to a director or a director having lent money to the company as it caters for both scenarios. It shall be used where the lender after having lent money now wishes to waive and release the debt.

 

Please note that in order for the release of a debt to be valid it must be made by deed as no consideration is given for the waiver, thus execution of the waiver as a deed avoids any argument that the waiver is unenforceable due to a lack of consideration.

 

This Deed is in Microsoft Word format, written in plain English, easy to use and edit.

 

 

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