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Indemnity Declaration

Indemnity Declaration for Singapore

Indemnity Declaration Template for Singapore

An Indemnity Declaration under Singapore law is a formal legal document where one party commits to compensating another party for specified losses, damages, or liabilities. Governed by Singapore's Contract Act and Civil Law Act, this document creates a binding obligation that is enforceable in Singapore courts. It typically includes specific details about the scope of indemnity, duration, and conditions under which the indemnity can be claimed.

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What is a Indemnity Declaration?

An Indemnity Declaration is commonly used in Singapore when one party needs to provide financial protection or risk coverage to another. This document, governed by Singapore law, creates a legally binding commitment to compensate for specific losses or liabilities. The declaration typically outlines the scope of protection, circumstances triggering the indemnity, and any limitations or conditions. It's particularly important in commercial transactions, construction projects, and financial arrangements where risk allocation needs to be clearly documented.

What sections should be included in a Indemnity Declaration?

1. Declaration Statement: Opening statement identifying the declarant and purpose

2. Declarant Details: Full legal name, address, and identification of the person making the declaration

3. Indemnity Scope: Specific details of what losses, damages, or liabilities are being indemnified

4. Duration: Period for which the indemnity remains valid

5. Governing Law: Explicit statement of Singapore law as governing law

6. Execution: Signature block and witnessing requirements

What sections are optional to include in a Indemnity Declaration?

1. Definitions: Required when technical or complex terms are used that need specific definition

2. Limitations: Specific exclusions or caps on indemnity, used when indemnity needs to be qualified or limited

3. Claims Procedure: Process for making claims under the indemnity, used for complex indemnities or when specific procedures need to be followed

What schedules should be included in a Indemnity Declaration?

1. Schedule of Assets: List of specific assets covered by indemnity, used when indemnity relates to specific property or assets

2. Schedule of Events: Timeline or list of specific events covered by the indemnity

3. Supporting Documents: Any relevant certificates, licenses, or supporting documentation required to support the declaration

Authors

Alex Denne

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

Jurisdiction

Singapore

Publisher

tiktok成人版

Document Type

Declaration Form

Sector

Compliance

Cost

Free to use
Relevant legal definitions

























Clauses






















Industries

Contracts Act 1872 (Chapter 53): Primary legislation governing contract formation, validity requirements, and consideration aspects in Singapore. Fundamental for ensuring the indemnity declaration meets basic contractual requirements.

Civil Law Act (Chapter 43): Contains specific provisions regarding indemnities and enforcement of contractual rights in Singapore legal system. Essential for structuring the indemnity clauses.

Limitation Act (Chapter 163): Establishes time limits for bringing claims and statutory limitation periods for enforcement. Critical for specifying time-bound aspects of the indemnity.

Common Law Principles: Governing principles regarding indemnity contracts, duty to mitigate losses, and reasonableness of terms from Singapore case law and English common law principles.

Unfair Contract Terms Act (Chapter 396): Provides restrictions on exclusion clauses and establishes reasonableness test for contract terms. Ensures indemnity provisions are fair and enforceable.

Misrepresentation Act (Chapter 390): Addresses false statements and representations in contracts. Relevant for warranties and representations in the indemnity declaration.

Electronic Transactions Act: Governs requirements for electronic signatures and validity of electronic documents if the indemnity declaration is to be executed electronically.

MAS Guidelines: Monetary Authority of Singapore guidelines that may be applicable if the indemnity declaration relates to financial services sector.

Industry-Specific Regulations: Sector-specific regulations that may impose additional requirements or restrictions on indemnity provisions depending on the industry context.

Teams

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