The Customer Indemnity Form is a critical risk management tool used in England and Wales when businesses need protection against potential losses arising from customer actions or circumstances. This document typically includes detailed provisions about the scope of indemnity, claim procedures, and liability limitations. It must comply with the Consumer Rights Act 2015 and other relevant UK legislation while remaining fair and reasonable. The form is particularly important in situations involving valuable assets, significant risks, or complex transactions where clear allocation of responsibility is essential.
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1. Parties: Identification and details of the indemnifying party and the indemnified party
2. Background: Context and purpose of the indemnity agreement
3. Definitions: Key terms used throughout the document
4. Scope of Indemnity: Specific circumstances and losses covered by the indemnity
5. Duration: Time period for which the indemnity remains valid
6. Governing Law: Specification of applicable law and jurisdiction
1. Insurance Requirements: Details of required insurance coverage - used when specific insurance requirements need to be maintained
2. Claims Procedure: Process for making and handling indemnity claims - used for complex arrangements or high-value indemnities
3. Limitations and Exclusions: Specific circumstances not covered by the indemnity - used when certain risks or scenarios need to be explicitly excluded
1. Schedule of Covered Activities: Detailed list of activities or circumstances covered by the indemnity
2. Schedule of Insurance Requirements: Specific insurance requirements and minimum coverage levels
3. Schedule of Excluded Events: Detailed list of circumstances explicitly excluded from coverage
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