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Subrogation Contract
"I need a Subrogation Contract under Austrian law for our insurance company to take over the rights of our insured client against a third-party manufacturer following a product liability claim settlement of €250,000 scheduled for March 2025."
1. Parties: Identification of the Subrogating Party (original creditor) and the Subrogated Party (new creditor)
2. Background: Context of the original debt/claim and the circumstances leading to subrogation
3. Definitions: Definition of key terms including 'Original Claim', 'Debtor', 'Subrogation Amount', and other relevant terms
4. Subject Matter of Subrogation: Clear description of the rights and claims being transferred through subrogation
5. Subrogation Amount: Specification of the exact amount for which subrogation is being granted
6. Terms of Payment: Details of how and when the subrogation amount will be paid
7. Transfer of Rights: Legal mechanism and timing of the transfer of rights from the Subrogating Party to the Subrogated Party
8. Representations and Warranties: Confirmations about the validity of the original claim and authority to transfer
9. Cooperation Obligations: Obligations of the Subrogating Party to assist in enforcement of the transferred rights
10. Governing Law and Jurisdiction: Specification of Austrian law as governing law and designation of competent courts
1. Partial Subrogation: Required when only part of a claim is being transferred through subrogation
2. Multiple Creditors: Needed when there are multiple parties with rights in the original claim
3. Recourse Rights: Optional section detailing any rights of recourse between the parties
4. Confidentiality: Required in cases where sensitive commercial or personal information is involved
5. Data Protection: Necessary when personal data is being processed as part of the subrogation
6. Insurance Specific Provisions: Required when the subrogation involves insurance claims
7. Notice Requirements: Details specific notification requirements to the debtor or third parties
8. Costs and Expenses: Allocation of costs related to the subrogation process and subsequent enforcement
1. Schedule 1 - Original Claim Details: Detailed description of the original claim including dates, amounts, and relevant documentation
2. Schedule 2 - Supporting Documents: Copies of relevant documents proving the original claim
3. Schedule 3 - Payment Details: Bank account and payment information for the subrogation amount
4. Schedule 4 - Power of Attorney: If required, formal authorization for the Subrogated Party to act
5. Schedule 5 - Relevant Correspondence: Copies of key correspondence related to the claim
6. Appendix A - Calculation of Subrogation Amount: Detailed breakdown of how the subrogation amount was calculated
Authors
Applicable Law
Assignment Date
Business Day
Claim
Claim Documents
Confidential Information
Debtor
Effective Date
Enforcement Rights
Insured
Insurer
Loss
Original Claim
Original Creditor
Original Debtor
Payment Date
Principal Amount
Recourse Rights
Related Rights
Relevant Jurisdiction
Security
Subrogated Party
Subrogated Rights
Subrogating Party
Subrogation
Subrogation Amount
Subrogation Date
Subrogation Notice
Subrogation Payment
Supporting Documents
Third Party
Transfer Date
Underlying Agreement
Underlying Debt
Payment Terms
Transfer of Rights
Representations and Warranties
Cooperation
Enforcement Rights
Documentation Requirements
Confidentiality
Data Protection
Notice Requirements
Governing Law
Jurisdiction
Assignment
Severability
Entire Agreement
Amendment
Force Majeure
Costs and Expenses
Indemnification
Further Assurance
Waiver
Third Party Rights
Counterparts
Notices
Dispute Resolution
Recourse Rights
Good Faith
Compliance with Laws
Authority and Capacity
Records and Information
Insurance
Banking and Financial Services
Legal Services
Debt Collection
Healthcare
Construction
Manufacturing
Transportation and Logistics
Professional Services
Real Estate
Legal
Claims
Risk Management
Insurance Operations
Finance
Compliance
Collections
Contract Administration
Underwriting
Legal Operations
Legal Counsel
Claims Manager
Risk Manager
Insurance Underwriter
Compliance Officer
Chief Financial Officer
Collections Manager
Contract Administrator
Insurance Claims Adjuster
Legal Operations Manager
Debt Recovery Specialist
Insurance Operations Director
Corporate Counsel
Finance Manager
Find the exact document you need
Buy Sell Agreement (Insurance)
An Austrian-law governed agreement establishing insurance-funded purchase arrangements for business interests upon specified trigger events.
Subrogation Contract
An Austrian law-governed agreement facilitating the transfer of rights from one party to another following the payment of a debt or claim, typically used in insurance and financial contexts.
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