Basic Indemnity Form for Hong Kong

Basic Indemnity Form Template for Hong Kong

A Basic Indemnity Form under Hong Kong law is a fundamental legal document that establishes a contractual obligation where one party (the Indemnitor) agrees to protect, compensate, or reimburse another party (the Indemnitee) for specified losses, damages, or liabilities. The document is structured in accordance with Hong Kong legal requirements and common law principles, incorporating essential elements such as clear identification of parties, scope of indemnification, notice requirements, and payment terms. It serves as a risk allocation tool while ensuring compliance with Hong Kong's Contract (Rights of Third Parties) Ordinance, Limitation Ordinance, and other relevant legislation.

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What is a Basic Indemnity Form?

The Basic Indemnity Form is a crucial legal instrument in Hong Kong's business environment, designed to provide clarity and certainty in risk allocation between parties. This document is commonly used when one party needs to protect another from specific risks, losses, or liabilities that may arise from business operations, transactions, or specific events. The form is structured to comply with Hong Kong's legal framework, including key legislation such as the Contract (Rights of Third Parties) Ordinance and the Control of Exemption Clauses Ordinance. It can be adapted for various business contexts, from simple commercial transactions to complex corporate arrangements, while maintaining its core purpose of clearly defining indemnification obligations, procedures, and limitations.

What sections should be included in a Basic Indemnity Form?

1. Parties: Identifies and defines the Indemnitor (party providing the indemnity) and Indemnitee (party receiving the indemnity protection)

2. Background: Brief context explaining the purpose and circumstances leading to the indemnity arrangement

3. Definitions: Defines key terms used throughout the document for clarity and precision

4. Scope of Indemnification: Clearly outlines what losses, damages, or liabilities are covered by the indemnity

5. Duration: Specifies when the indemnity begins and ends, including any survival provisions

6. Notice Requirements: Sets out how and when the Indemnitee must notify the Indemnitor of claims

7. Payment Terms: Specifies the timing and method of indemnity payments

8. Governing Law and Jurisdiction: Confirms Hong Kong law as governing law and specifies jurisdiction for disputes

What sections are optional to include in a Basic Indemnity Form?

1. Claims Procedure: Detailed process for handling claims - included when specific procedures need to be followed for making and responding to indemnity claims

2. Limitations and Exclusions: Specific carve-outs or caps on the indemnity - included when the indemnity is not intended to be unlimited

3. Insurance Requirements: Obligations to maintain specific insurance coverage - included when insurance is relevant to the indemnity arrangement

4. Third Party Rights: Provisions regarding third party rights under the Contract (Rights of Third Parties) Ordinance - included when third parties may need to enforce the indemnity

5. Dispute Resolution: Specific procedures for resolving disputes - included when parties want to specify arbitration or mediation before litigation

6. Confidentiality: Obligations to keep the indemnity terms confidential - included when confidentiality is a concern

What schedules should be included in a Basic Indemnity Form?

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

2. Schedule 2 - Claim Form Template: Standard form for making indemnity claims

3. Schedule 3 - Insurance Requirements: Detailed specifications of required insurance coverage, if applicable

4. Appendix A - Supporting Documents: List of relevant background documents or agreements referenced in the indemnity

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

Jurisdiction

Hong Kong

Publisher

Genie AI

Document Type

Employment Form

Cost

Free to use
Relevant Industries

Financial Services

Real Estate

Construction

Professional Services

Technology

Manufacturing

Retail

Healthcare

Education

Transportation and Logistics

Energy

Insurance

Telecommunications

Relevant Teams

Legal

Compliance

Risk Management

Finance

Operations

Commercial

Corporate Secretarial

Business Development

Insurance

Procurement

Executive Management

Relevant Roles

Legal Counsel

Risk Manager

Compliance Officer

Contract Manager

Business Development Manager

Chief Financial Officer

Operations Director

Project Manager

Company Secretary

Insurance Manager

Commercial Director

Chief Executive Officer

General Counsel

Finance Director

Industries
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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