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Hold Harmless Agreement (Insurance)
"I need a Hold Harmless Agreement (Insurance) for our construction company in Manila, protecting us against potential claims arising from subcontractor activities during our upcoming high-rise development project starting March 2025, with specific focus on workplace safety and structural integrity risks."
1. Parties: Identifies and defines the parties to the agreement, including the Indemnitor (party providing indemnification) and Indemnitee (party being protected)
2. Background: Sets out the context and purpose of the agreement, including the relationship between the parties and the activities being covered
3. Definitions: Defines key terms used throughout the agreement, including specific insurance-related terminology
4. Scope of Indemnification: Clearly outlines the specific activities, risks, and circumstances covered by the hold harmless provision
5. Indemnification Obligations: Details the specific obligations of the Indemnitor, including the extent of protection and types of losses covered
6. Insurance Requirements: Specifies the types and amounts of insurance coverage required to support the indemnification
7. Duration: Establishes the term of the agreement and any survival provisions
8. Notice Requirements: Sets out procedures for providing notice of claims or circumstances that might lead to claims
9. Governing Law: Specifies that Philippine law governs the agreement and relevant jurisdiction
10. Execution: Formal closing provisions and signature blocks
1. Limitation of Liability: Includes caps or restrictions on the indemnification obligation, used when parties want to limit potential exposure
2. Exclusions: Specifies circumstances or types of losses not covered by the indemnification, used when certain risks need to be carved out
3. Security Provisions: Required when additional security (such as bonds or guarantees) is needed to support the indemnification
4. Claims Handling Procedure: Detailed process for managing claims, used in complex agreements or when specific procedures are required
5. Subrogation Rights: Addresses insurance subrogation rights, used when insurance companies' rights need to be specifically addressed
6. Alternative Dispute Resolution: Includes mediation or arbitration provisions, used when parties prefer alternative dispute resolution methods
7. Force Majeure: Addresses extraordinary events affecting performance, used when specific circumstances might impact the indemnification obligations
1. Schedule A - Insurance Requirements: Detailed specifications of required insurance policies, coverage limits, and terms
2. Schedule B - Covered Activities: Comprehensive list of activities and operations covered by the indemnification
3. Schedule C - Excluded Risks: Specific listing of risks and circumstances excluded from coverage
4. Schedule D - Claims Procedures: Step-by-step procedures for handling and processing claims
5. Appendix 1 - Insurance Certificates: Copies of current insurance certificates and policies
6. Appendix 2 - Corporate Authorizations: Required corporate resolutions or authorizations for entering into the agreement
Authors
Construction
Real Estate
Manufacturing
Events and Entertainment
Healthcare
Transportation and Logistics
Mining and Resources
Energy
Infrastructure Development
Hospitality
Industrial Operations
Maritime and Shipping
Legal
Risk Management
Compliance
Operations
Finance
Insurance
Project Management
Procurement
Safety and Security
Corporate Affairs
Facilities Management
Contract Administration
Risk Manager
Insurance Manager
Legal Counsel
Compliance Officer
Contract Administrator
Project Manager
Operations Director
Chief Financial Officer
Insurance Broker
Claims Manager
Facility Manager
Safety Officer
Corporate Secretary
Business Development Manager
Procurement Manager
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