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Indemnity Form

Indemnity Form Template for Austria

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Key Requirements PROMPT example:

Indemnity Form

"I need an Indemnity Form under Austrian law for a construction project where my company (as the main contractor) will indemnify the project owner against third-party claims arising from our construction activities, with the agreement to commence on March 1, 2025."

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Document background
The Indemnity Form serves as a critical risk management tool in Austrian business and legal practice. This document is typically employed when one party needs to protect another against specific risks, losses, or legal claims. The form is particularly relevant in business transactions, construction projects, service agreements, and corporate restructuring where risk allocation is essential. The document must comply with Austrian legal requirements, particularly the ABGB (Austrian Civil Code) and, where applicable, the UGB (Austrian Commercial Code). The Indemnity Form includes detailed provisions on the scope of protection, claim procedures, and enforcement mechanisms, ensuring it serves both legal compliance and practical business needs. It is designed to be adaptable to various business contexts while maintaining its enforceability under Austrian law.
Suggested Sections

1. Parties: Identification and details of the indemnifier and the indemnitee

2. Background: Context and purpose of the indemnity agreement

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

4. Scope of Indemnification: Detailed description of what losses, damages, or claims are covered by the indemnity

5. Indemnification Process: Procedure for making claims under the indemnity, including notice requirements and timing

6. Duration: Term of the indemnity agreement and any survival provisions

7. Limitations and Exclusions: Specific exclusions from the indemnity coverage and any monetary or temporal limitations

8. Governing Law and Jurisdiction: Confirmation of Austrian law application and jurisdiction for disputes

9. Execution: Signature blocks and execution requirements

Optional Sections

1. Insurance Requirements: Required when the indemnifier must maintain specific insurance coverage

2. Third Party Rights: Needed when the indemnity extends to parties beyond the direct contracting parties

3. Security Provisions: Include when additional security (such as bank guarantees) is required to support the indemnity

4. Subrogation Rights: Required when dealing with insurance-related indemnities or specific rights of recovery

5. Alternative Dispute Resolution: Optional section for specifying mediation or arbitration procedures before court litigation

6. Force Majeure: Include when certain extraordinary events should excuse performance of the indemnity obligations

Suggested Schedules

1. Schedule 1 - Specific Indemnified Events: Detailed list of specific events or circumstances covered by the indemnity

2. Schedule 2 - Claim Notice Form: Template form for submitting indemnification claims

3. Appendix A - Insurance Requirements: Detailed specifications of required insurance coverage, if 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

Construction

Manufacturing

Professional Services

Technology

Real Estate

Financial Services

Healthcare

Energy

Transportation

Insurance

Education

Retail

Relevant Teams

Legal

Risk Management

Finance

Compliance

Operations

Procurement

Corporate Governance

Insurance

Project Management

Business Development

Relevant Roles

Legal Counsel

Risk Manager

Contract Manager

Project Manager

Chief Financial Officer

Compliance Officer

Insurance Manager

Operations Director

Chief Executive Officer

Business Development Manager

Procurement Manager

General Counsel

Corporate Secretary

Finance Director

Industries
Austrian Civil Code (ABGB): The fundamental civil law codification in Austria that governs contracts, obligations, and liability principles (particularly §§ 859-937 on contracts and §§ 1293-1341 on damages)
Austrian Consumer Protection Act (KSchG): Regulates contracts involving consumers and places restrictions on liability limitations in consumer contracts (especially relevant if the indemnity agreement involves a consumer party)
Austrian Corporate Code (UGB): Contains specific provisions for commercial contracts and business-to-business relationships, particularly relevant for indemnity agreements between companies
Austrian Insurance Contract Act (VersVG): May be relevant when the indemnity agreement relates to or affects insurance coverage or risk transfer mechanisms
General Civil Code provisions on Form Requirements: Sections of ABGB (§§ 883-886) governing formal requirements for contracts, including when written form is necessary
Austrian General Law of Administrative Procedure (AVG): May be relevant if the indemnity agreement involves public entities or administrative matters
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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