The Indemnity Form For Contractors is a crucial legal instrument in Singapore's business environment, designed to manage risk and liability in contractor relationships. This document becomes necessary when engaging external contractors for various projects or services, providing protection for both the principal company and the contractor. It addresses key areas including workplace safety, professional liability, insurance requirements, and compliance with Singapore's regulatory framework. The form is particularly important given Singapore's strict regulatory environment and the need for clear risk allocation in business relationships.
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1. Parties: Identification of the contracting parties including full legal names, registration numbers, and addresses
2. Background: Context and purpose of the indemnity agreement, including the relationship between the parties
3. Definitions: Key terms used in the agreement including 'Services', 'Indemnified Parties', 'Claims', and 'Losses'
4. Scope of Indemnity: Detailed description of what losses, damages, and claims are covered by the indemnity
5. Duration: Period during which the indemnity remains valid, including any survival clauses
6. Obligations of Parties: Specific responsibilities and duties of each party under the agreement
7. Governing Law and Jurisdiction: Specification of Singapore law as governing law and jurisdiction for dispute resolution
1. Insurance Requirements: Detailed requirements for insurance coverage, including types of insurance and minimum coverage amounts
2. Intellectual Property: Provisions relating to ownership and protection of intellectual property rights in the course of services
3. Confidentiality: Obligations regarding the protection and non-disclosure of confidential information
4. Force Majeure: Provisions addressing unforeseen circumstances that may affect performance of obligations
5. Dispute Resolution: Specific procedures for resolving disputes, including mediation or arbitration provisions
1. Schedule 1 - Scope of Works: Detailed description of contracted works or services to be performed
2. Schedule 2 - Insurance Certificates: Copies of required insurance policies and certificates
3. Schedule 3 - Risk Assessment: Documentation of identified risks and corresponding mitigation measures
4. Schedule 4 - Safety Procedures: Required safety protocols and procedures for the performance of services
5. Schedule 5 - Rate Card: Agreed rates and payment terms for the services if applicable
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