The Declaration of Indemnity serves as a critical risk management tool in New Zealand business and legal contexts. It is commonly used when one party needs to provide financial protection or risk coverage to another party in various business situations, such as corporate transactions, service agreements, or property dealings. The document typically includes detailed provisions about the scope of indemnification, claim procedures, and temporal limitations, all aligned with New Zealand legal requirements. This declaration is particularly relevant in scenarios involving potential liability transfer, asset protection, or risk allocation between parties. The document must comply with New Zealand contract law principles and include specific elements required for enforceability under local jurisdiction.
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1. Parties: Identification of the Indemnifier (party providing the indemnity) and the Indemnitee (party being indemnified), including full legal names and addresses
2. Background: Context and circumstances leading to the need for the indemnity, including reference to any related agreements or events
3. Definitions: Clear definitions of key terms used in the declaration, including 'Indemnified Events', 'Losses', and any other specific terms
4. Scope of Indemnity: Detailed description of what risks, losses, or damages are covered by the indemnity
5. Indemnification Process: Process for making claims under the indemnity, including notification requirements and timeframes
6. Duration: Period for which the indemnity remains valid, including start date and any termination conditions
7. Governing Law: Specification that the declaration is governed by New Zealand law
8. Execution: Signing section with date and witness provisions
1. Limitations and Exclusions: Specific exclusions or limitations to the indemnity coverage, used when certain risks or circumstances need to be explicitly excluded
2. Insurance Requirements: Details of any insurance policies required to support the indemnity, included when specific insurance coverage is necessary
3. Multiple Parties: Additional provisions for cases involving multiple indemnifiers or indemnitees
4. Dispute Resolution: Specific procedures for resolving disputes, included when parties want to specify alternative dispute resolution methods
5. Severability: Provision ensuring that if any part of the declaration is found invalid, the rest remains enforceable
6. Assignment: Provisions regarding whether the indemnity rights can be assigned to other parties
1. Schedule 1: Specified Risks: Detailed list of specific risks, events, or circumstances covered by the indemnity
2. Schedule 2: Claim Procedures: Detailed procedures for making and processing indemnity claims
3. Schedule 3: Related Agreements: List and details of any related agreements or contracts referenced in the main declaration
4. Appendix A: Supporting Documents: Copies of relevant certificates, insurance policies, or other supporting documentation
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Transport and Logistics
Energy
Education
Retail
Agriculture
Relevant Teams
Legal
Risk Management
Finance
Compliance
Corporate Governance
Operations
Insurance
Executive Leadership
Project Management
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Relevant Roles
Risk Manager
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Chief Financial Officer
Company Director
Compliance Officer
Contract Manager
Insurance Manager
Corporate Secretary
Project Manager
Operations Director
Chief Executive Officer
Business Development Manager
Property Manager
Finance Director
General Counsel
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