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Indemnity Agreement Form

Indemnity Agreement Form for Singapore

Indemnity Agreement Form Template for Singapore

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What is a Indemnity Agreement Form?

The Indemnity Agreement Form is a crucial risk management tool in Singapore's commercial landscape. This document is typically used when parties need to allocate risk in business transactions, protect against potential losses, or provide security in commercial relationships. The agreement must comply with Singapore's legal framework, including the Contracts Act and Civil Law Act. An effective Indemnity Agreement Form clearly defines the scope of protection, claim procedures, and obligations of all parties involved, while ensuring enforceability under Singapore law.

What sections should be included in a Indemnity Agreement Form?

1. Parties: Identification of indemnifier and indemnitee with full legal names and addresses

2. Background: Context and purpose of the indemnity agreement

3. Definitions: Key terms used throughout the agreement including scope of indemnified matters

4. Scope of Indemnity: Detailed description of specific risks, losses, and circumstances covered by the indemnity

5. Duration: Term of the indemnity coverage and survival provisions

6. Obligations of Parties: Duties and responsibilities of each party including notification requirements

7. Governing Law: Specification of Singapore law as governing law and jurisdiction

What sections are optional to include in a Indemnity Agreement Form?

1. Insurance Requirements: Details of required insurance coverage and maintenance obligations

2. Limitation of Liability: Caps or restrictions on indemnity obligations and exclusions

3. Notice Requirements: Specific procedures and timelines for making claims under the indemnity

4. Assignment: Rights and restrictions regarding transfer of the agreement

What schedules should be included in a Indemnity Agreement Form?

1. Schedule 1 - Covered Risks: Detailed list of specific risks and circumstances covered by the indemnity

2. Schedule 2 - Excluded Events: List of circumstances explicitly not covered by the indemnity

3. Schedule 3 - Claims Procedure: Step-by-step process for making and handling indemnity claims

4. Schedule 4 - Insurance Certificates: Copies of relevant insurance policies or certificates required under the agreement

Authors

Alex Denne

Head of Growth (Open Source Law) @ ΊμΠΣΦ±²₯ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions

























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Industries

Contracts Act (Cap. 53): Primary legislation governing contract formation, validity, and enforcement in Singapore. Essential for establishing the basic legal framework of the indemnity agreement.

Civil Law Act (Cap. 43): Provides fundamental principles of civil law in Singapore, including provisions affecting contractual relationships and remedies.

Limitation Act (Cap. 163): Establishes statutory time limits for bringing legal claims, which affects the enforcement period of indemnity provisions.

Common Law Contract Principles: Foundational legal principles governing contract formation, including offer, acceptance, consideration, and intention to create legal relations.

Doctrine of Unconscionability: Legal principle protecting against unfair advantage in contract terms, particularly relevant for indemnity clauses that might be overly onerous.

Unfair Contract Terms Act (Cap. 396): Regulates unfair terms in contracts, particularly relevant for reviewing the reasonableness of indemnity provisions.

Third Parties (Rights against Insurers) Act: Governs rights of third parties in insurance contexts, important if the indemnity agreement involves insurance aspects.

Insurance Act: Regulates insurance business and contracts in Singapore, relevant if the indemnity agreement includes insurance elements.

Companies Act: Governs corporate entities in Singapore, relevant when parties to the indemnity agreement are corporations.

Partnership Act: Regulates partnerships in Singapore, applicable if any party to the agreement is a partnership.

Electronic Transactions Act: Governs electronic transactions and digital signatures, relevant if the indemnity agreement will be executed electronically.

Singapore Case Law on Indemnities: Relevant judicial decisions from Singapore courts that establish precedents for interpreting and enforcing indemnity provisions.

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, Β Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, Β Severance Pay, Governing Law, Entire Agreemen

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