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Indemnity Agreement

Indemnity Agreement Template for Australia

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Key Requirements PROMPT example:

Indemnity Agreement

"I need an Indemnity Agreement for my technology company to protect against third-party claims when providing software services to a major bank, with specific coverage for data breaches and intellectual property infringement."

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Document background
The Indemnity Agreement is a critical risk allocation tool used in Australian business and legal contexts where one party agrees to protect another against specified losses or liabilities. This document type is commonly used in commercial transactions, corporate restructures, service agreements, and property dealings where risk transfer is necessary or commercially prudent. The agreement must comply with Australian federal and state legislation, including the Competition and Consumer Act 2010, relevant state Contract Laws, and industry-specific regulations. It typically includes detailed provisions on the scope of indemnity, claim procedures, and enforcement mechanisms, with careful consideration given to Australian legal principles regarding the validity and enforceability of indemnity provisions.
Suggested Sections

1. Parties: Identifies and provides full details of the indemnifier and indemnitee

2. Background: Sets out the context and purpose of the indemnity arrangement

3. Definitions and Interpretation: Defines key terms and establishes interpretation principles

4. Indemnity: Core section detailing the scope and nature of the indemnity obligations

5. Payment Terms: Specifies how and when indemnity payments must be made

6. Duration: Establishes the term of the indemnity and any survival provisions

7. Claims Procedure: Details the process for making and responding to indemnity claims

8. Representations and Warranties: States the basic representations made by each party

9. Notices: Specifies how formal notices must be given between parties

10. General Provisions: Standard boilerplate clauses including governing law, jurisdiction, and assignment

Optional Sections

1. Security: Required when additional security (such as guarantees or charges) is needed to support the indemnity

2. Insurance: Include when specific insurance requirements are imposed on either party

3. Confidentiality: Needed when the arrangement involves sensitive information

4. Special Termination Rights: Include when specific termination triggers beyond standard breach provisions are required

5. Dispute Resolution: Optional detailed dispute resolution procedures beyond court jurisdiction

6. Force Majeure: Include when certain events should excuse performance of obligations

7. Step-In Rights: Include when the indemnitee needs rights to take over certain activities

8. Subrogation: Include when rights of subrogation need to be addressed explicitly

Suggested Schedules

1. Indemnified Matters: Detailed list or description of matters covered by the indemnity

2. Claim Form: Standard form for making indemnity claims

3. Security Details: Details of any security provided (if applicable)

4. Insurance Requirements: Specific insurance requirements and minimum coverage levels

5. Contact Details: Detailed contact information for notices and claims

6. Excluded Claims: Specific exclusions from the indemnity coverage

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions


































Clauses






























Relevant Industries

Financial Services

Construction

Real Estate

Manufacturing

Technology

Healthcare

Mining

Energy

Transport and Logistics

Professional Services

Insurance

Retail

Infrastructure

Telecommunications

Relevant Teams

Legal

Risk Management

Compliance

Finance

Commercial

Operations

Corporate Secretariat

Executive

Insurance

Business Development

Project Management

Procurement

Relevant Roles

Legal Counsel

Risk Manager

Compliance Officer

Chief Financial Officer

Commercial Director

Contract Manager

Company Secretary

Chief Executive Officer

Operations Director

Insurance Manager

General Counsel

Business Development Manager

Project Manager

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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