cralawWhile petitioner may be correct in stating that quitclaims are frowned upon for being contrary to public policy, the Court has, likewise, recognized legitimate waivers that represent a voluntary and reasonable settlement of a worker's claim which should be respected as the law between the parties. Where the person making the waiver has done so voluntarily, with a full understanding thereof, and the consideration for the quitclaim is credible and reasonable, the transaction must be recognized as being a valid and binding undertaking.[29]   cralawIn the instant case, petitioner, by his own hand, wrote the following in the March 20, 2001 release and quitclaim:   cralawThat I have read this paper from beginning to and [sic] and understand the contents thereof.   cralawThat I know this paper that I am signing.   That I know that signing this paper settles and ends every right or claim I have for all damages including but not limited to loss of earning capacity [sic] of past and future maintenance. [sic] support [sic] suffering [sic] mental anguish. [sic] serious anxiety and similar injury.   cralawThat I have received the amount of US$405 or P18,630.   cralawThat I know that upon receipt of the above amount I waive all claims I may have for damage against the vessel's owners and her agents, insurers, charterers, operators [sic] underwriters, p.i. clube [sic], shipper and all other persons in interest therein or thereon, under all and all other countries.   [30]chanroblesvirtuallawlibrary cralawFrom the document itself, the element of voluntariness in its execution is evident. Petitioner also appears to have fully understood the contents of the document he was signing, as the important provision thereof had been relayed to him in Filipino. Thus, the document also states:   cralawNa alam ko na pagkatanggap ko nang halagang ito ay pinawawalang bisa at iniuurong ko nang lahat [ng] aking interes, karapatan, at anumang reklamo o damyos laban sa barko, may-ari nito, mga ahente, seguro at lahat-lahat ng may