The General Indemnity Form is a crucial legal instrument in Singapore's business environment, used when one party needs to protect another against specific risks, losses, or liabilities. This document is particularly relevant in commercial transactions, construction projects, and financial arrangements where risk allocation is essential. The form must comply with Singapore's legal framework, including the Civil Law Act and Unfair Contract Terms Act, and typically includes detailed provisions on scope, duration, and claim procedures. It serves as a risk management tool while providing clear obligations and rights for all parties involved.
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1. Parties: Identification of indemnifier and indemnitee with full legal names and addresses
2. Background: Context and circumstances leading to the indemnity
3. Definitions: Key terms used in the indemnity agreement
4. Scope of Indemnity: Specific risks, losses, and circumstances covered
5. Duration: Period of effectiveness of the indemnity
6. Execution: Signing provisions and witness requirements
1. Insurance Requirements: Details of required insurance coverage when specific insurance requirements are part of the indemnity arrangement
2. Notice Requirements: Procedures for notifying claims in complex arrangements where formal notification procedures are needed
3. Dispute Resolution: Processes for resolving disputes, recommended for high-value or complex indemnities
1. Schedule of Covered Events: Detailed list of specific events or circumstances covered by the indemnity
2. Schedule of Excluded Events: List of specific exclusions from the indemnity coverage
3. Schedule of Insurance Requirements: Detailed insurance specifications if applicable
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