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Indemnity Agreement Form

Indemnity Agreement Form Template for Austria

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Key Requirements PROMPT example:

Indemnity Agreement Form

"I need an Indemnity Agreement Form under Austrian law to protect my technology company against potential intellectual property claims when engaging a software development contractor, with the agreement to take effect from March 1, 2025."

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Document background
The Indemnity Agreement Form is a crucial legal instrument used in Austrian business and commercial relationships to allocate risk and provide financial protection between parties. This document is particularly relevant when one party needs to protect another against potential losses, claims, or liabilities arising from specific business activities, transactions, or relationships. The agreement must comply with Austrian legal requirements, particularly the Austrian Civil Code (ABGB) and Commercial Code (UGB), and clearly defines the scope of indemnification, procedures for making claims, and payment obligations. It's commonly used in corporate transactions, service agreements, construction projects, and other business arrangements where risk allocation is essential. The document can be customized to address specific indemnification needs while maintaining enforceability under Austrian law.
Suggested Sections

1. Parties: Identification and details of the Indemnitor (party providing indemnification) and Indemnitee (party being indemnified)

2. Background: Context of the agreement, relationship between parties, and circumstances necessitating the indemnification

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

4. Scope of Indemnification: Detailed description of what losses, damages, and liabilities are covered by the indemnification

5. Indemnification Process: Procedures for making claims, notice requirements, and handling of claims

6. Duration: Term of the indemnification obligation, including any survival provisions

7. Limitations: Any caps, exclusions, or limitations on the indemnification obligation

8. Payment Terms: Timing and method of indemnification payments

9. Governing Law and Jurisdiction: Specification of Austrian law as governing law and designation of competent courts

10. Execution: Signature blocks and execution requirements

Optional Sections

1. Third Party Claims: Specific procedures for handling claims made by third parties - include when third party claims are anticipated

2. Insurance Requirements: Obligations to maintain specific insurance coverage - include when additional security is needed

3. Security Provisions: Requirements for security deposits or guarantees - include for high-value indemnifications

4. Cooperation: Obligations for parties to cooperate in defending claims - include in complex business relationships

5. Assignment: Rights and restrictions regarding assignment of the agreement - include when transfer rights are important

6. Force Majeure: Provisions for unforeseeable circumstances - include when long-term indemnification is involved

7. Dispute Resolution: Alternative dispute resolution procedures - include when parties prefer arbitration or mediation

Suggested Schedules

1. Schedule A - Specific Indemnified Events: Detailed list of specific events, activities, or circumstances covered by the indemnification

2. Schedule B - Excluded Claims: List of specific exclusions from the indemnification coverage

3. Schedule C - Claims Procedure: Detailed procedure for making and processing indemnification claims

4. Appendix 1 - Contact Information: Designated contacts and notice addresses for both parties

5. Appendix 2 - Insurance Certificates: Copies of required insurance policies or certificates when applicable

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Manufacturing

Construction

Professional Services

Financial Services

Technology

Healthcare

Real Estate

Energy

Transportation

Insurance

Retail

Telecommunications

Relevant Teams

Legal

Finance

Risk Management

Compliance

Corporate Affairs

Operations

Procurement

Insurance

Business Development

Project Management

Relevant Roles

Legal Counsel

Contract Manager

Risk Manager

Chief Legal Officer

Chief Financial Officer

Business Development Manager

Project Manager

Compliance Officer

Corporate Secretary

Operations Director

procurement Manager

Insurance Manager

Industries
Austrian Civil Code (ABGB): The fundamental source of Austrian private law that governs contractual relationships, including the basic principles of indemnification agreements (§§ 880a, 1345-1348 ABGB)
Austrian Consumer Protection Act (KSchG): Relevant when one party is a consumer, as it may limit the scope and enforceability of indemnification clauses
Austrian Commercial Code (UGB): Applies to commercial transactions and contains specific provisions regarding liability and indemnification between businesses
Austrian General Civil Law on Damages (Schadenersatzrecht): Regulations concerning compensation for damages and the extent of liability, which are crucial for indemnification agreements
Austrian Contract Law (Vertragsrecht): General principles of contract formation, validity, and interpretation that apply to indemnification agreements
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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