Mutual Indemnity And Waiver Of Recourse Agreement Template for Singapore

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Key Requirements PROMPT example:

Mutual Indemnity And Waiver Of Recourse Agreement

"I need a Mutual Indemnity And Waiver Of Recourse Agreement governed by Singapore law for a joint venture between two construction companies, with specific focus on indemnities related to equipment sharing and worker safety, to be effective from March 2025."

What is a Mutual Indemnity And Waiver Of Recourse Agreement?

The Mutual Indemnity And Waiver Of Recourse Agreement serves as a critical risk management tool in complex commercial arrangements under Singapore law. It is particularly valuable when parties engage in activities with significant operational risks and need to establish clear boundaries for liability and indemnification. This agreement type is commonly used in joint ventures, construction projects, and other commercial arrangements where multiple parties interact and need to allocate risks effectively. The document typically includes detailed provisions on the scope of indemnities, insurance requirements, and specific circumstances under which parties agree not to pursue claims against each other.

What sections should be included in a Mutual Indemnity And Waiver Of Recourse Agreement?

1. Parties: Identification and details of contracting parties

2. Background: Context and purpose of the agreement

3. Definitions: Key terms used throughout the agreement

4. Mutual Indemnities: Core indemnification obligations of each party

5. Waiver of Recourse: Provisions regarding waiver of rights to pursue claims

6. Duration: Term of the agreement and survival provisions

7. Governing Law: Specification of Singapore law as governing law

What sections are optional to include in a Mutual Indemnity And Waiver Of Recourse Agreement?

1. Insurance Requirements: Details of required insurance coverage and maintenance obligations

2. Third Party Rights: Treatment of third party rights and exclusions under the agreement

3. Dispute Resolution: Procedures for resolving disputes including mediation and arbitration provisions

4. Force Majeure: Treatment of events beyond parties' control and their impact on indemnities

What schedules should be included in a Mutual Indemnity And Waiver Of Recourse Agreement?

1. Schedule of Indemnified Risks: Detailed list of risks covered by indemnities

2. Insurance Requirements Schedule: Specific insurance requirements and minimum coverage levels

3. Form of Notice: Template for notices required under the agreement

4. Related Agreements: List of associated agreements affected by the indemnities

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

alex.den.21@genieai.co

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Find the exact document you need

Generic Indemnity Form

A Singapore law-governed agreement where one party agrees to protect another against specified losses or liabilities.

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Let's create your Mutual Indemnity And Waiver Of Recourse Agreement

What is a Mutual Indemnity And Waiver Of Recourse Agreement?

What sections should be included in a Mutual Indemnity And Waiver Of Recourse Agreement?

What sections are optional to include in a Mutual Indemnity And Waiver Of Recourse Agreement?

What schedules should be included in a Mutual Indemnity And Waiver Of Recourse Agreement?

Authors

Alex Denne

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