The Waiver Indemnification Agreement serves as a crucial risk management tool in Indonesian business transactions, combining elements of both waiver and indemnification in a single document. This agreement type is particularly relevant when parties need to clearly establish the allocation of risks and responsibilities in their business relationship, while ensuring compliance with Indonesian legal requirements. The document is commonly used in situations involving potentially risky activities, complex business transactions, or when there's a need to protect certain parties from specific liabilities. It must be drafted in accordance with the Indonesian Civil Code (KUHPer) and related regulations, incorporating all necessary elements for enforceability under Indonesian law. The agreement typically includes detailed provisions about the scope of waived rights, the extent of indemnification obligations, and the procedures for making claims, making it a vital tool for risk mitigation in various business contexts.
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1. Parties: Identification and details of all parties to the agreement, including their legal status and authority to enter into the agreement
2. Background: Context and circumstances leading to the agreement, including the relationship between the parties and the purpose of the waiver and indemnification
3. Definitions: Clear definitions of key terms used throughout the agreement, including 'Indemnified Parties', 'Claims', 'Losses', etc.
4. Scope of Waiver: Detailed description of the rights, claims, and remedies being waived, including any limitations or exceptions
5. Indemnification Obligations: Specific terms of the indemnification, including what is covered, the process for claiming indemnification, and any limitations
6. Duration: The period for which the waiver and indemnification obligations remain in effect
7. Representations and Warranties: Statements affirming the parties' capacity, authority, and understanding of the agreement
8. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and the chosen forum for dispute resolution
9. Notices: Procedures for giving formal notices under the agreement
10. Execution: Signature blocks and execution requirements
1. Insurance Requirements: Required when specific insurance coverage is needed to support the indemnification obligations
2. Third Party Rights: Include when there are specific third parties who benefit from or are affected by the waiver or indemnification
3. Survival: Include when certain obligations need to survive the termination of the agreement
4. Force Majeure: Include when external events might affect the parties' ability to perform their obligations
5. Assignment: Include when transfer of rights or obligations needs to be specifically addressed
6. Severability: Include when there's a need to ensure partial invalidity doesn't affect the entire agreement
7. Confidentiality: Include when the waiver or indemnification involves sensitive information
1. Schedule A - Scope of Waived Claims: Detailed list or description of specific claims, rights, or remedies being waived
2. Schedule B - Indemnified Events: Comprehensive list of events, circumstances, or losses covered by the indemnification
3. Schedule C - Claim Procedures: Detailed procedures for making and processing indemnification claims
4. Appendix 1 - Required Insurance Coverage: Specific insurance requirements and minimum coverage amounts
5. Appendix 2 - Form of Notice: Template for formal notices under the agreement
Relevant legal definitions
Clauses
Relevant Industries
Construction
Manufacturing
Events and Entertainment
Real Estate
Technology
Energy
Mining
Financial Services
Healthcare
Transportation and Logistics
Sports and Recreation
Education
Professional Services
Relevant Teams
Legal
Risk Management
Compliance
Operations
Finance
Corporate Affairs
Insurance
Facilities Management
Project Management
Business Development
Health and Safety
Relevant Roles
Legal Counsel
Risk Manager
Compliance Officer
Contract Administrator
Project Manager
Business Development Manager
Operations Director
Chief Financial Officer
Chief Legal Officer
Corporate Secretary
Insurance Manager
Facility Manager
Event Coordinator
Safety Officer
General Manager
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