The Mutual Indemnity And Waiver Of Recourse Agreement is commonly used in complex commercial arrangements where multiple parties operate in high-risk environments under English and Welsh law. This agreement is particularly valuable when parties need to establish clear liability boundaries and prevent circular litigation. It typically includes detailed provisions for mutual indemnification, specific waivers of recourse rights, and insurance requirements. The agreement is especially relevant in industries such as construction, energy, and maritime operations, where multiple contractors and subcontractors work together and need to manage their risk exposure effectively.
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1. Parties: Identification and details of all contracting parties
2. Background: Context and purpose of the agreement
3. Definitions: Key terms used throughout the agreement
4. Mutual Indemnities: Core indemnification obligations of each party
5. Waiver of Recourse: Specific provisions waiving rights of recourse between parties
6. Term and Termination: Duration and termination provisions
7. Governing Law and Jurisdiction: Specification of English and Welsh law and courts
1. Insurance Requirements: Specific insurance obligations, used when parties need to maintain certain coverage
2. Parent Company Guarantee: Additional security provisions when one or more parties are subsidiaries
3. Confidentiality: Protection of sensitive information when confidential information will be shared
1. Schedule 1 - Scope of Indemnities: Detailed description of indemnified risks and obligations
2. Schedule 2 - Insurance Requirements: Specific insurance types and coverage levels required
3. Schedule 3 - Form of Parent Company Guarantee: Standard form of parent company guarantee if required
4. Appendix A - Defined Terms: Extended definitions and interpretations
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