The Generic Indemnity Form is a versatile legal instrument used in Singapore to establish clear risk allocation between parties. This document is commonly employed when one party needs to protect another from potential losses, claims, or damages arising from specific circumstances or actions. The form must comply with Singapore's legal requirements, including the Civil Law Act and related legislation. It typically includes detailed provisions about the scope of protection, duration, claim procedures, and any specific exclusions or limitations.
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1. Parties: Identifies the indemnifier and indemnitee with full legal names and addresses
2. Background: Explains the context and purpose of the indemnity
3. Definitions: Defines key terms used in the agreement
4. Scope of Indemnity: Clearly defines what is covered by the indemnity
5. Duration: Specifies how long the indemnity remains in effect
6. Governing Law: Specifies Singapore law as governing law
1. Insurance Requirements: Details required insurance coverage when indemnifier must maintain specific insurance
2. Claims Procedure: Process for making indemnity claims, recommended for complex arrangements or high-value indemnities
3. Limitations and Exclusions: Specific carve-outs from the indemnity when certain risks are specifically excluded
1. Schedule of Covered Events: Detailed list of events or circumstances covered by the indemnity
2. Schedule of Excluded Events: Specific exclusions from the indemnity coverage
3. Claims Form Template: Standard form for making indemnity claims
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