Simple Indemnity Agreement Template for Singapore

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Key Requirements PROMPT example:

Simple Indemnity Agreement

"I need a Simple Indemnity Agreement under Singapore law for my technology company to protect against potential losses from a software development contractor, with specific focus on intellectual property claims and data breaches."

What is a Simple Indemnity Agreement?

A Simple Indemnity Agreement is commonly used in Singapore business transactions to allocate risk between parties. This document, governed by Singapore law, establishes clear obligations for compensation in case of specified losses or damages. It's particularly useful in commercial relationships where one party needs protection against potential losses arising from the other party's actions or specific circumstances. The agreement typically defines the scope of indemnity, claim procedures, and compliance with local regulations including the Civil Law Act and Unfair Contract Terms Act.

What sections should be included in a Simple Indemnity Agreement?

1. Parties: Identification of indemnifier and indemnitee with full legal names and addresses

2. Background: Context and purpose of the indemnity arrangement, including relevant relationship between parties

3. Definitions: Key terms used in the agreement including 'Indemnified Party', 'Losses', 'Claims', etc.

4. Scope of Indemnity: Detailed description of specific losses, damages, and circumstances covered by the indemnity

5. Duration: Term of the indemnity coverage and any survival provisions

6. Notice Requirements: Process and timeframes for making claims under the indemnity

7. Governing Law: Specification of Singapore law as governing law and jurisdiction

What sections are optional to include in a Simple Indemnity Agreement?

1. Insurance Requirements: Details of insurance coverage requirements including types, amounts, and duration of coverage

2. Limitations on Liability: Specific caps, exclusions, or restrictions on indemnity obligations

3. Third Party Claims: Procedures for handling claims made by third parties and defense obligations

4. Dispute Resolution: Alternative dispute resolution procedures including mediation and arbitration provisions

What schedules should be included in a Simple Indemnity Agreement?

1. Schedule A - Covered Events: Comprehensive list of circumstances and events triggering indemnity obligations

2. Schedule B - Excluded Events: Detailed list of specific exclusions from indemnity coverage

3. Schedule C - Notice Requirements: Detailed procedures and forms for claim notifications and supporting documentation

Authors

Alex Denne

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

alex.den.21@genieai.co

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Contracts Manager
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Let's create your Simple Indemnity Agreement

What is a Simple Indemnity Agreement?

What sections should be included in a Simple Indemnity Agreement?

What sections are optional to include in a Simple Indemnity Agreement?

What schedules should be included in a Simple Indemnity Agreement?

Authors

Alex Denne

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