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Deductible Indemnity Agreement
"I need a Deductible Indemnity Agreement between our manufacturing company and a key component supplier, with a €50,000 deductible for quality-related claims and specific provisions for product recall scenarios, to be effective from March 1, 2025."
1. Parties: Identification and details of the Indemnitor and Indemnitee
2. Background: Context of the agreement and relationship between parties
3. Definitions: Definitions of key terms including 'Indemnified Loss', 'Deductible Amount', 'Claim', and other relevant terms
4. Scope of Indemnification: Detailed description of what losses, damages, or liabilities are covered by the indemnity
5. Deductible Structure: Specification of the deductible amount and how it applies to claims
6. Claims Process: Procedures for making and handling indemnification claims, including notice requirements and timing
7. Payment Terms: Terms and conditions for payment of indemnified amounts, including timing and method
8. Limitations and Exclusions: Specific limitations on liability and excluded types of losses or claims
9. Duration and Termination: Term of the agreement and circumstances for termination
10. Governing Law and Jurisdiction: Confirmation of Belgian law application and jurisdiction for disputes
11. General Provisions: Standard contractual provisions including notices, amendments, and assignment
1. Insurance Requirements: Required when parties need to maintain specific insurance coverage related to the indemnified risks
2. Security Provisions: Include when additional security or guarantees are required to support the indemnification obligations
3. Subrogation Rights: Required when specifying rights to pursue third parties who may be responsible for indemnified losses
4. Alternative Dispute Resolution: Include when parties prefer mediation or arbitration before court proceedings
5. Currency and Exchange Rates: Necessary for international agreements where payments might be made in different currencies
6. Regulatory Compliance: Include when the agreement relates to regulated industries or activities
7. Third Party Rights: Required when certain provisions benefit or affect third parties
1. Schedule 1 - Calculation of Deductible: Detailed methodology for calculating the deductible, including any sliding scales or aggregate provisions
2. Schedule 2 - Claim Form Template: Standard form for submitting indemnification claims
3. Schedule 3 - Excluded Losses: Detailed list of specific exclusions from the indemnity coverage
4. Schedule 4 - Required Notices: Forms and templates for required notices under the agreement
5. Appendix A - Supporting Documents: List of documents evidencing the underlying relationship or risks being indemnified
6. Appendix B - Contact Details: Detailed contact information for key personnel involved in claims processing
Authors
Affiliate
Business Day
Claim
Claim Notice
Commencement Date
Confidential Information
Control
Deductible Amount
Dispute
Effective Date
Excluded Losses
Force Majeure Event
Governmental Authority
Indemnified Loss
Indemnified Party
Indemnifying Party
Insolvency Event
Laws
Liability
Loss
Material Adverse Effect
Notice
Party/Parties
Payment Date
Permitted Purpose
Quarter
Related Persons
Representatives
Security
Subsidiary
Term
Territory
Third Party Claim
Working Hours
Year
Deductible
Liability Limitations
Claims Procedure
Payment Terms
Representations and Warranties
Confidentiality
Force Majeure
Dispute Resolution
Governing Law
Notices
Assignment
Amendment
Severability
Entire Agreement
Third Party Rights
Waiver
Term and Termination
Compliance with Laws
Insurance
Security
Currency
Interest
Set-off
Further Assurance
Costs and Expenses
Counterparts
Language
Data Protection
Anti-corruption
Insurance
Manufacturing
Construction
Financial Services
Technology
Energy
Healthcare
Transportation
Real Estate
Professional Services
Industrial
Infrastructure
Legal
Risk Management
Finance
Compliance
Commercial
Operations
Insurance
Treasury
Corporate Development
Procurement
Legal Counsel
Risk Manager
Chief Financial Officer
Compliance Officer
Contract Manager
Insurance Manager
Chief Legal Officer
Chief Risk Officer
Commercial Director
Business Development Manager
Operations Director
Project Manager
General Counsel
Financial Controller
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