A Deed of Indemnity and Release is commonly used in Singapore when parties need to establish clear protection against future liabilities while resolving existing claims. This document is particularly valuable in corporate transactions, settlements, and risk management scenarios. The deed format provides additional enforceability under Singapore law compared to simple contracts, making it especially suitable for significant commercial arrangements. It typically includes detailed provisions about the scope of indemnity, the claims being released, and the conditions under which these obligations operate.
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1. Parties: Identifies and defines the indemnifying party and beneficiary
2. Background: Sets out the context and circumstances leading to the indemnity
3. Definitions: Defines key terms used throughout the deed
4. Indemnity: Core provisions detailing the scope and nature of indemnification
5. Release: Provisions regarding the release of claims
6. Execution: Formal execution blocks for parties
1. Conditions Precedent: Used when indemnity is conditional on certain events or preconditions
2. Duration: Specifies time limits on indemnity obligations when not intended to be perpetual
3. Insurance: Requirements for insurance coverage when indemnifying party must maintain specific insurance
4. Exclusions: Specific exclusions from indemnity coverage for certain excluded matters
1. Schedule of Released Claims: Detailed list of specific claims being released
2. Schedule of Indemnified Matters: Specific matters covered by the indemnity
3. Schedule of Related Agreements: List of agreements related to the indemnity
4. Corporate Authorizations: Required when parties are companies, showing authority to execute
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