The Indemnification Agreement Form is a critical legal document used in New Zealand business transactions where one party seeks to protect itself against potential losses or liabilities arising from specific circumstances. This agreement is commonly employed in commercial relationships, construction projects, corporate transactions, and professional service arrangements. The document outlines the scope of indemnification, procedures for making claims, and the obligations of all parties involved. It must comply with New Zealand legal requirements, including the Contract and Commercial Law Act 2017, Fair Trading Act 1986, and relevant case law. The agreement is particularly important in situations involving significant risk transfer, complex commercial relationships, or regulatory compliance requirements. It provides a framework for risk allocation and dispute resolution while ensuring clear communication channels between parties.
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1. Parties: Identifies and provides full details of the indemnifier and indemnitee
2. Background: Explains the context and purpose of the indemnification agreement
3. Definitions: Defines key terms used throughout the agreement
4. Scope of Indemnification: Clearly outlines what losses, damages, or liabilities are covered by the indemnification
5. Indemnification Obligations: Details the specific obligations of the indemnifying party
6. Claims Procedure: Establishes the process for making and responding to indemnification claims
7. Notice Requirements: Specifies how and when notices of claims must be given
8. Defense of Claims: Outlines procedures for defending against third-party claims
9. Duration: Specifies how long the indemnification obligations remain in effect
10. Limitations: Sets out any caps or limitations on the indemnification obligation
11. Governing Law: Specifies that New Zealand law governs the agreement
12. Dispute Resolution: Outlines the process for resolving disputes between parties
13. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments
1. Insurance Requirements: Required when the indemnifying party must maintain specific insurance coverage
2. Third Party Rights: Needed when third parties may have rights under the indemnification
3. Cross-Indemnification: Used when both parties are providing reciprocal indemnification
4. Exclusions: Specific exclusions from the scope of indemnification
5. Survival: Specifies which provisions survive termination of the agreement
6. Security: Required when collateral or security is provided to support the indemnification obligation
7. Assignment: Used when transfer of indemnification rights needs to be addressed specifically
8. Confidentiality: Required when sensitive information may be exchanged in connection with claims
1. Schedule of Specific Indemnified Events: Lists specific events, activities, or circumstances covered by the indemnification
2. Schedule of Excluded Claims: Details specific types of claims that are excluded from the indemnification
3. Schedule of Insurance Requirements: Specifies required insurance types, coverage amounts, and terms
4. Schedule of Notice Information: Contains detailed contact information for notices and claims
5. Appendix A - Claim Form Template: Standard form for submitting indemnification claims
6. Appendix B - Claims Procedures: Detailed procedures for processing and responding to claims
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