A system for waterproofing a basement or similar structure including a horizontal section disposed on the top surface of the structure's foundation footer, and a vertical section that extends from the horizontal section in communication with the structure's foundation wall. The horizontal section includes a top surface, side walls, and a bottom surface that define a central drainage area, the side walls include lower apertures. The vertical section includes front and back surfaces, the back surface includes an edge having passages in fluid communication with the lower apertures. The vertical section includes an upper flange that protrudes a distance from the back surface such that the lower edge and flange portion abut the interior surface of the foundation wall.