Release Agreements, sometimes called Release Forms or Waiver Agreements, are legal documents that release a person or business from liability after an incident has occurred. Often, the incident has caused damages to one party and the Release Agreement is being used to compensate the victim without the need to go to court. In exchange for their compensation, the victim waives their right to take the other party to court in the future seeking further compensation. Think of it like a court settlement without all the nasty litigation.