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Basic Indemnity Agreement

Basic Indemnity Agreement Template for Malaysia

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Key Requirements PROMPT example:

Basic Indemnity Agreement

"I need a Basic Indemnity Agreement under Malaysian law for a construction project where my company (ABC Construction Sdn Bhd) will be indemnified by a subcontractor (XYZ Builders Sdn Bhd) against all potential claims arising from their work on our Kuala Lumpur development site from March 2025."

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Document background
The Basic Indemnity Agreement serves as a fundamental risk management tool in Malaysian business transactions, providing a framework for allocating potential risks and liabilities between parties. This document becomes necessary when parties need to clearly define their risk exposure and establish protection mechanisms against potential losses or claims. It is particularly relevant in commercial relationships where one party seeks protection from risks associated with the other party's actions or obligations. The agreement must comply with Malaysian law, particularly the Contracts Act 1950, Civil Law Act 1956, and relevant common law principles. Users should note that while this is a basic form of indemnity agreement, it can be customized to address specific business needs while maintaining compliance with Malaysian legal requirements.
Suggested Sections

1. Parties: Identifies and defines the indemnitor (party providing indemnity) and indemnitee (party being indemnified)

2. Background: Sets out the context and purpose of the indemnity agreement

3. Definitions: Defines key terms used throughout the agreement, including 'Loss', 'Claims', and 'Indemnified Events'

4. Scope of Indemnity: Clearly defines what events, losses, or circumstances are covered by the indemnity

5. Indemnification Process: Details the procedure for making claims under the indemnity, including notice requirements and timing

6. Payment Terms: Specifies how and when indemnity payments should be made

7. Duration: Establishes the term of the agreement and survival of obligations

8. Governing Law and Jurisdiction: Specifies Malaysian law as governing law and determines jurisdiction for disputes

9. Notices: Sets out how formal notices under the agreement should be given

10. Execution: Signature blocks and execution formalities

Optional Sections

1. Limitations on Indemnity: Include when there are specific monetary caps or exclusions to the indemnity coverage

2. Insurance Requirements: Include when the indemnitor must maintain specific insurance coverage

3. Security: Include when additional security (such as a bank guarantee) is required to support the indemnity

4. Third Party Rights: Include when the indemnity extends to or affects third parties

5. Alternative Dispute Resolution: Include when parties want to specify mediation or arbitration procedures

6. Confidentiality: Include when the agreement involves sensitive information or trade secrets

7. Force Majeure: Include when certain events should excuse performance of the indemnity obligations

Suggested Schedules

1. Schedule 1 - Specified Events: Detailed list of events or circumstances covered by the indemnity

2. Schedule 2 - Claim Procedures: Detailed procedures for making and processing indemnity claims

3. Schedule 3 - Excluded Losses: Specific losses or events excluded from the indemnity coverage

4. Appendix A - Form of Notice: Template for formal notices under the agreement

5. Appendix B - Form of Claim: Standard form for submitting indemnity claims

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions






















Clauses


























Relevant Industries

Financial Services

Construction

Manufacturing

Technology

Real Estate

Energy

Healthcare

Transportation

Professional Services

Retail

Mining

Agriculture

Telecommunications

Relevant Teams

Legal

Finance

Risk Management

Compliance

Operations

Commercial

Corporate Secretariat

Business Development

Project Management

Executive Leadership

Relevant Roles

Legal Counsel

Risk Manager

Compliance Officer

Contract Manager

Chief Financial Officer

Business Development Manager

Project Manager

Operations Director

Commercial Director

Chief Executive Officer

Company Secretary

Finance Manager

General Counsel

Legal Director

Industries





Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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