Indemnification Agreement Template for Singapore

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Key Requirements PROMPT example:

Indemnification Agreement

"I need an Indemnification Agreement under Singapore law to protect my technology company against potential IP infringement claims arising from software we're licensing to a major bank from March 2025."

What is a Indemnification Agreement?

The Indemnification Agreement serves as a risk allocation tool in commercial relationships under Singapore law. It is commonly used when parties need to clearly define who bears specific risks and financial responsibilities in business transactions. This document type is particularly relevant in scenarios involving corporate restructuring, service agreements, or asset purchases. The agreement must comply with Singapore's Contract Act and related legislation, while specifically outlining the scope of indemnification, claim procedures, and enforcement mechanisms.

What sections should be included in a Indemnification Agreement?

1. Parties: Identification and details of the indemnifier and indemnitee

2. Background: Context and purpose of the indemnification agreement

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

4. Scope of Indemnity: Detailed description of what losses, liabilities, and circumstances are covered by the indemnity

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

6. Notice Requirements: Process and timeframes for notifying claims under the indemnity

7. Payment Terms: Timing and method of indemnification payments

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

What sections are optional to include in a Indemnification Agreement?

1. Insurance Requirements: Additional insurance obligations and minimum coverage requirements

2. Caps on Liability: Limitations on the maximum amount of indemnification and exclusions

3. Defense Rights: Rights and procedures for defending claims covered by the indemnity

4. Subrogation Rights: Rights to pursue claims against third parties

5. Dispute Resolution: Specific procedures for resolving disputes related to the indemnity

What schedules should be included in a Indemnification Agreement?

1. Schedule 1 - Covered Claims: Detailed list of specific claims or types of claims covered under the indemnity

2. Schedule 2 - Claims Procedure: Step-by-step process for making and handling claims under the indemnity

3. Schedule 3 - Insurance Specifications: Details of required insurance coverage, terms, and conditions

4. Schedule 4 - Excluded Claims: Specific exclusions and limitations to the indemnity coverage

Authors

Alex Denne

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

alex.den.21@genieai.co

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Find the exact document you need

Third Party Indemnity Agreement

A Singapore-law governed agreement where one party agrees to protect another against third-party related losses or liabilities.

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Let's create your Indemnification Agreement

What is a Indemnification Agreement?

What sections should be included in a Indemnification Agreement?

What sections are optional to include in a Indemnification Agreement?

What schedules should be included in a Indemnification Agreement?

Authors

Alex Denne

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