The Indemnification Form is a critical legal instrument used in various business contexts under Austrian law to establish and formalize risk allocation between parties. This document is typically employed when one party needs to protect another against specific risks, losses, or third-party claims. The form details the scope of protection, procedures for making claims, and limitations of liability, all while ensuring compliance with Austrian legal requirements. Common scenarios for using this document include corporate transactions, service agreements, construction projects, and other business arrangements where risk allocation is crucial. The Indemnification Form must be carefully drafted to address specific Austrian legal requirements, including those under the Austrian Civil Code (ABGB) and relevant commercial laws, while clearly defining the rights and obligations of all parties involved.
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1. Parties: Identification of the indemnifying party (Indemnitor) and the party being indemnified (Indemnitee), including full legal names and addresses
2. Background: Context of the indemnification agreement, including the relationship between parties and the circumstances necessitating the indemnification
3. Definitions: Clear definitions of key terms used in the agreement, including 'Indemnified Losses', 'Claims', and 'Indemnification Period'
4. Scope of Indemnification: Detailed description of what losses, damages, or claims are covered by the indemnification
5. Indemnification Obligations: Specific obligations of the Indemnitor, including payment terms and procedures
6. Notice Requirements: Procedures for notifying the Indemnitor of claims and timeframes for such notifications
7. Defense of Claims: Process for handling third-party claims, including control of defense and settlement procedures
8. Duration: Term of the indemnification obligations and any survival provisions
9. Limitations: Any caps, exclusions, or limitations on the indemnification obligations
10. Governing Law and Jurisdiction: Specification of Austrian law as governing law and designation of competent courts
1. Insurance Requirements: Required when specific insurance coverage needs to be maintained by either party
2. Specific Assets: When the indemnification relates to specific assets or properties
3. Intellectual Property: When the indemnification covers IP-related claims or infringements
4. Environmental Matters: When environmental liabilities are part of the indemnification scope
5. Tax Matters: When tax-related indemnifications are included
6. Force Majeure: When parties want to address the impact of force majeure events on indemnification obligations
7. Alternative Dispute Resolution: When parties prefer to include mediation or arbitration provisions
8. Confidentiality: When handling of confidential information needs to be addressed in relation to indemnified claims
1. Schedule A - Specific Indemnified Matters: Detailed list of specific incidents, claims, or matters covered by the indemnification
2. Schedule B - Calculation Method: Formula or methodology for calculating indemnification amounts
3. Schedule C - Excluded Claims: List of specific exclusions from the indemnification coverage
4. Schedule D - Notice Information: Detailed contact information and procedures for claim notifications
5. Appendix 1 - Related Agreements: List of related agreements referenced in the indemnification form
6. Appendix 2 - Insurance Certificates: Copies of required insurance certificates when applicable
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