Whether incorporated federally under the Canada Business Corporations Act or Provincially under the Ontario Business Corporations Act, shareholders to a
Why do I need a Liability Waiver?
Liability waivers are most often used for participation in sports and other recreational activities (like a fitness training program or attendance at an entertainment event) but can also be used when a business is providing a service to another business (business to business contract) such as where employees are participating in a third-party training course.
Liability waivers are intended to reduce the liability of a business for bodily injury or property damage that may occur to a participant whether stemming from the negligence of the business or others. In Ontario, liability waivers are usually a requirement for business owners seeking to obtain a commercial insurance policy.
Liability waivers must be broad enough to cover a wide range of circumstance but specific enough to reflect the dangers of a particular activity. Liability waivers must be tailored to the particular circumstances of your business and the specific risks that may be involved for participants.
This is why it is important to have a liability waiver for your business drafted by a contract lawyer.