Abstract: Improvement in a system for protecting foundation walls and the like, said system comprising at least one main protecting sheet made of relatively thin, stiff material and including protrusions formed therein, for thereby providing air channels and channels for receiving water from back fill. In order to provide a complete coverage of such foundation walls even by varying height thereof, and in a far more efficient manner, the improvement comprises pre-cut top sheet elements and bottom sheet elements adapted to be mounted along a foundation wall prior to the mounting of said main protecting sheet thereupon, so as to achieve full protecting coverage of said foundation wall in a more rapid and time-saving manner on site. The system also allows for pre-cut corner sheet elements adapted to cover the merging portions of an inner corner or an outer corner of a foundation wall and also adpated to be mounted prior to the mounting of the main protecting sheet thereupon.