The Personal Indemnification Agreement is commonly used in Singapore when individuals need to provide personal protection against potential losses or liabilities to other parties. This document is particularly relevant in professional relationships, corporate governance, and personal guarantees. It must comply with Singapore's legal framework, including the Civil Law Act and Unfair Contract Terms Act. The agreement typically specifies the scope of indemnification, triggering events, exclusions, and claim procedures. It's essential when personal liability protection is required beyond standard corporate or insurance coverage.
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1. Parties: Identifies the indemnifier and indemnitee with full legal names and addresses
2. Background: Explains the context and purpose of the indemnification agreement
3. Definitions: Defines key terms used throughout the agreement
4. Scope of Indemnification: Details what losses, damages, or liabilities are covered
5. Duration: Specifies how long the indemnification remains in effect
6. Limitations and Exclusions: Specifies any limitations on the scope of indemnity and excluded claims
7. Process for Claims: Sets out the procedure for making and handling indemnification claims
8. Governing Law and Jurisdiction: Confirms Singapore law applies and establishes jurisdiction for disputes
9. Execution: Signature blocks and execution formalities
1. Insurance Requirements: Specifies insurance obligations and minimum coverage requirements to back the indemnity
2. Defense Rights: Details rights and obligations regarding legal defense of claims including choice of counsel
3. Notice Requirements: Specific procedures and timeframes for notifying parties of claims or potential claims
4. Subrogation Rights: Rights of the indemnifier to pursue claims against third parties
5. Assignment: Provisions regarding the ability to assign rights under the agreement
1. Schedule 1 - Covered Activities: Detailed list of activities, circumstances, or events covered by the indemnification
2. Schedule 2 - Excluded Claims: Specific listing of claims, losses, or circumstances explicitly excluded from coverage
3. Schedule 3 - Insurance Requirements: Detailed specifications of required insurance types, coverage amounts, and insurers
4. Schedule 4 - Claims Procedure: Step-by-step process for submitting and handling claims, including required documentation
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