This Indemnification Agreement template is designed for use in Indonesian business transactions where one party seeks to protect another against specific risks, losses, or liabilities. The document is particularly relevant in corporate transactions, joint ventures, service agreements, and other commercial arrangements where risk allocation is crucial. The agreement must comply with Indonesian legal requirements, including the Civil Code (KUHPerdata) and relevant corporate regulations. It includes comprehensive provisions for claim procedures, defense mechanisms, and dispute resolution, tailored to the Indonesian legal context. This template is commonly used in various scenarios such as corporate restructuring, asset purchases, service agreements, or project developments where clear risk allocation is essential.
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1. Parties: Identification of the Indemnifier and Indemnitee, including their legal status and authority to enter into the agreement
2. Background: Context of the agreement, relationship between parties, and basis for the indemnification obligation
3. Definitions: Key terms including 'Losses', 'Claims', 'Indemnified Events', and other relevant definitions
4. Scope of Indemnification: Detailed description of what losses, damages, and circumstances are covered by the indemnification
5. Indemnification Process: Procedures for making claims, notice requirements, and timing of indemnification payments
6. Defense of Claims: Procedures for defending third-party claims, including control of defense and settlement
7. Limitations and Exclusions: Specific limitations on liability and excluded events or damages
8. Duration: Term of the indemnification obligations and survival periods
9. Representations and Warranties: Basic representations about authority to enter agreement and validity of obligations
10. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and choice of forum for disputes
11. Miscellaneous: Standard provisions including notices, amendments, assignment, and severability
1. Insurance Requirements: Required when the indemnifier must maintain specific insurance coverage to support indemnification obligations
2. Security Provisions: Used when collateral or security is required to secure the indemnification obligations
3. Cross-Indemnification: Included when both parties are providing reciprocal indemnification
4. Regulatory Compliance: Required for regulated industries or when specific regulatory requirements apply
5. Currency and Payment Terms: Necessary when dealing with international parties or specific payment mechanisms
6. Language Provision: Required when agreement is bilingual (Indonesian and English versions)
1. Schedule of Specific Indemnified Events: Detailed list of specific events or circumstances covered by the indemnification
2. Schedule of Pre-Existing Claims: List of known claims or circumstances that are excluded from coverage
3. Schedule of Insurance Requirements: Detailed specifications of required insurance coverage
4. Schedule of Notice Information: Contact details and procedures for sending notices under the agreement
5. Appendix A - Claim Form Template: Standard form for submitting indemnification claims
6. Appendix B - Power of Attorney: Standard form of power of attorney for claim handling (if required)
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