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Subrogation Contract
I need a Subrogation Contract under Danish law for a property insurance claim where my company (Nordic Insurance A/S) paid out 500,000 DKK to our insured on March 15, 2025, and we now need to recover this amount from a third-party contractor who caused the damage.
1. Parties: Identification of all parties to the agreement, including the original creditor/insured, the insurance company/new creditor, and any other relevant parties
2. Background: Context of the original claim, insurance payment, and basis for subrogation
3. Definitions: Definitions of key terms used throughout the agreement
4. Scope of Subrogation: Detailed description of the rights being transferred and the extent of the subrogation
5. Transfer of Rights: Specific provisions regarding the transfer of legal rights and claims from the original creditor to the insurance company
6. Consideration: Details of any payment or consideration for the subrogation
7. Representations and Warranties: Statements and guarantees by the original creditor about the validity of the claim and related rights
8. Obligations of the Original Creditor: Ongoing duties to assist with claim pursuit and document provision
9. Enforcement Rights: Powers granted to the insurance company to pursue the claim
10. Governing Law and Jurisdiction: Specification of Danish law as governing law and jurisdiction for disputes
11. Notices: Process for formal communications between parties
12. Execution: Signature blocks and execution requirements
1. Multiple Creditors: Section dealing with multiple original creditors or complex ownership structures
2. International Provisions: Additional provisions for cases involving international parties or cross-border elements
3. Confidentiality: Provisions regarding confidentiality of claim details and agreement terms
4. Assignment: Rights to assign the subrogated claims to third parties
5. Partial Subrogation: Provisions for cases where only part of the claim is being subrogated
6. Tax Provisions: Specific provisions dealing with tax implications of the subrogation
7. Force Majeure: Provisions dealing with circumstances beyond parties' control affecting the subrogation
1. Schedule 1 - Original Claim Details: Detailed description of the original claim including dates, amounts, and circumstances
2. Schedule 2 - Insurance Payment Details: Information about the insurance payment that gives rise to subrogation rights
3. Schedule 3 - Supporting Documents: List of all relevant supporting documents transferred with the claim
4. Schedule 4 - Power of Attorney: Form of power of attorney for pursuing the claim
5. Appendix A - Original Contract: Copy of the original contract or agreement giving rise to the claim
6. Appendix B - Claim Documentation: Copies of all relevant claim documentation
7. Appendix C - Correspondence: Relevant correspondence relating to the original claim
Authors
Applicable Law
Business Day
Claim
Claim Documents
Claim Rights
Compensation
Confidential Information
Effective Date
Enforcement Rights
Insurance Payment
Insurance Policy
Insured Event
Legal Proceedings
Loss
Original Contract
Original Creditor
Parties
Recovery Proceeds
Relevant Jurisdiction
Representatives
Subrogated Rights
Subrogation Date
Subrogor
Subrogee
Supporting Documents
Third Party
Third Party Claim
Transfer Date
Underlying Claim
Definitions
Transfer of Rights
Assignment
Representations and Warranties
Obligations
Cooperation
Consideration
Payment Terms
Confidentiality
Data Protection
Notice
Enforcement
Further Assurance
Costs
Liability
Indemnification
Force Majeure
Severability
Entire Agreement
Amendment
Waiver
Counterparts
Third Party Rights
Time Limits
Dispute Resolution
Governing Law
Jurisdiction
Insurance
Financial Services
Banking
Maritime
Construction
Manufacturing
Transportation
Real Estate
Healthcare
Energy
Professional Services
Retail
Legal
Claims
Risk Management
Compliance
Insurance Operations
Contract Management
Recovery & Subrogation
Corporate Affairs
Policy Administration
Dispute Resolution
Insurance Claims Manager
Legal Counsel
Risk Manager
Claims Adjuster
Insurance Underwriter
Compliance Officer
Contract Manager
Insurance Broker
Chief Risk Officer
Claims Attorney
Insurance Operations Manager
Recovery Specialist
Subrogation Manager
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