A system and method of deploying a parachute system, wherein the system functions with a timed delay or without a timed delay. The system can include a primary static line and a release-away line, wherein the primary static line is connected to a main chute and also to a soft link. The soft link can be cut by a cutter, thereby releasing the parachute system from an aircraft. Alternatively, the primary static line may contain a cable, wherein the cable features a three or more loop assembly that allows for release of the primary static line from the aircraft. The system may also utilize a three ring assembly or other mechanical actuation device. The system may include a drogue chute as well as a main chute.