The Indemnity Declaration is a crucial risk management tool used in various business contexts under Swiss law. It is typically employed when one party needs to provide financial protection to another against specific risks, losses, or liabilities. The document finds application in corporate transactions, business relationships, or specific risk transfer scenarios where clear allocation of potential liabilities is essential. This declaration, governed by Swiss law, particularly the Swiss Code of Obligations, must be carefully drafted to ensure enforceability and clarity of obligations. The Indemnity Declaration includes essential elements such as the scope of indemnification, claim procedures, and any limitations or conditions, making it a vital instrument for risk allocation and management in business relationships.
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1. Declaration Date and Parties: Identifies the date of the declaration and the full details of the indemnifier (party giving the indemnity) and indemnitee (party receiving the indemnity)
2. Background: Brief context explaining why the indemnity is being given and any relevant background circumstances
3. Definitions: Key terms used in the declaration, particularly defining the scope of indemnified matters and relevant parties
4. Indemnity Obligation: The core indemnity commitment, clearly stating what losses, damages, or liabilities are covered
5. Scope of Indemnity: Detailed description of what is and isn't covered by the indemnity
6. Claims Procedure: Process for making claims under the indemnity, including notice requirements and timing
7. Governing Law: Confirmation that Swiss law governs the declaration
8. Execution: Signature block and execution formalities
1. Duration: Include when the indemnity is time-limited rather than indefinite
2. Limitations and Caps: Include when there are specific monetary caps or other limitations on the indemnity
3. Multiple Indemnifiers: Include when there are multiple parties providing the indemnity to address joint and several liability
4. Assignment: Include when transfer rights need to be specifically addressed
5. Dispute Resolution: Include when specific dispute resolution procedures are required beyond standard court jurisdiction
6. Insurance Requirements: Include when the indemnifier must maintain specific insurance coverage
1. Schedule 1 - Indemnified Matters: Detailed list or description of specific matters, events, or circumstances covered by the indemnity (if too detailed for main body)
2. Schedule 2 - Claim Form: Standard form for making claims under the indemnity (if a specific format is required)
3. Schedule 3 - Related Agreements: List of any related agreements or documents referenced in the indemnity declaration
4. Appendix A - Supporting Documents: Any relevant certificates, insurance policies, or other supporting documentation referenced in the declaration
Relevant legal definitions
Clauses
Parties
Recitals
Definitions
Scope of Indemnity
Indemnification Obligations
Limitations of Liability
Claims Procedure
Notice Requirements
Payment Terms
Duration
Force Majeure
Assignment
Subrogation Rights
Insurance Requirements
Representations and Warranties
Dispute Resolution
Governing Law
Severability
Entire Agreement
Amendments
Third Party Rights
Costs and Expenses
Waiver
Counterparts
Language
Notices
Recitals
Definitions
Scope of Indemnity
Indemnification Obligations
Limitations of Liability
Claims Procedure
Notice Requirements
Payment Terms
Duration
Force Majeure
Assignment
Subrogation Rights
Insurance Requirements
Representations and Warranties
Dispute Resolution
Governing Law
Severability
Entire Agreement
Amendments
Third Party Rights
Costs and Expenses
Waiver
Counterparts
Language
Notices
Relevant Industries
Financial Services
Insurance
Manufacturing
Construction
Real Estate
Technology
Healthcare
Professional Services
Energy
Transportation
Retail
Telecommunications
Mining and Resources
Agriculture
Education
Relevant Teams
Legal
Risk Management
Finance
Compliance
Corporate Secretariat
Business Development
Operations
Treasury
Insurance
Commercial
Executive Leadership
Project Management
Relevant Roles
Legal Counsel
Risk Manager
Chief Financial Officer
Chief Executive Officer
Compliance Officer
Corporate Secretary
Business Development Manager
Contract Manager
Insurance Manager
Operations Director
Finance Director
General Counsel
Commercial Director
Project Manager
Treasury Manager
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