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Affidavit and Indemnity Agreement
I need an affidavit and indemnity agreement for a situation where I am required to affirm the truthfulness of certain statements and agree to indemnify another party against any potential losses or claims arising from these statements. The document should include a clear description of the statements being affirmed, the scope of indemnity, and any applicable jurisdictional laws.
What is an Affidavit and Indemnity Agreement?
An Affidavit and Indemnity Agreement combines two powerful legal tools commonly used in Hong Kong's business and legal landscape. The affidavit portion is your sworn statement of facts, while the indemnity agreement promises to protect another party from potential losses or legal claims arising from those facts.
Hong Kong businesses and individuals often use these agreements when replacing lost documents, transferring property, or handling estate matters. For example, when dealing with lost share certificates, the agreement protects the company issuing new certificates by having the shareholder swear to the loss and promise to cover any damages if the original documents resurface and cause problems.
When should you use an Affidavit and Indemnity Agreement?
You need an Affidavit and Indemnity Agreement when dealing with lost or damaged important documents in Hong Kong, especially share certificates, property deeds, or bank documents. It's particularly crucial when you're requesting replacements from banks, companies, or government agencies that need protection against future claims.
Common situations include replacing lost share certificates, handling estate matters where original documents are missing, or transferring property rights without complete documentation. Banks and financial institutions often require these agreements before issuing duplicate bank books or certificates of deposit. The agreement protects the issuing organization while giving you a legal path to replace essential documents.
What are the different types of Affidavit and Indemnity Agreement?
- Basic Lost Document Agreement: Used when replacing lost share certificates or property deeds, focusing on the circumstances of loss and basic indemnification
- Estate Administration Version: Tailored for executors handling missing documents in deceased estates, including broader indemnity coverage
- Financial Institution Format: Specifically designed for banking transactions, with detailed clauses about duplicate certificates and potential third-party claims
- Corporate Securities Version: Enhanced provisions for listed companies, addressing regulatory compliance and multiple stakeholder protection
- Property Transaction Type: Includes specific clauses for real estate matters, focusing on title documentation and land registry requirements
Who should typically use an Affidavit and Indemnity Agreement?
- Corporate Shareholders: Request these agreements when seeking replacement share certificates or transferring securities without original documentation
- Banks and Financial Institutions: Require and process these agreements before issuing duplicate certificates or documents
- Legal Practitioners: Draft and review agreements to ensure compliance with Hong Kong law and protect client interests
- Estate Executors: Use these agreements when handling missing documents in deceased estates
- Company Secretaries: Manage the processing and filing of these agreements for corporate record-keeping and regulatory compliance
- Property Owners: Submit these when dealing with lost title deeds or property documentation
How do you write an Affidavit and Indemnity Agreement?
- Document Details: Gather precise information about the lost or damaged document, including reference numbers, dates, and issuing authority
- Loss Circumstances: Document exact details of how and when the original document was lost or destroyed
- Identity Verification: Prepare identification documents of all parties involved, including Hong Kong ID cards or business registration certificates
- Witness Requirements: Arrange for a qualified witness, typically a solicitor or notary public in Hong Kong
- Supporting Evidence: Collect any police reports, correspondence, or other evidence related to the lost document
- Financial Details: Calculate potential liability coverage amounts for the indemnity portion
What should be included in an Affidavit and Indemnity Agreement?
- Declarant Details: Full legal name, address, and identification details of the person making the affidavit
- Lost Document Description: Precise details of the missing document, including reference numbers and date of issue
- Loss Statement: Clear declaration of how, when, and where the document was lost or destroyed
- Indemnity Clause: Specific promise to compensate the issuing party for any losses resulting from document replacement
- Witness Attestation: Signature space for a Hong Kong solicitor or notary public
- Governing Law: Clear statement that Hong Kong law governs the agreement
- Execution Block: Proper signature sections with date and seal requirements
What's the difference between an Affidavit and Indemnity Agreement and an Affidavit?
People often confuse an Affidavit and Indemnity Agreement with a simple Affidavit, but they serve distinctly different purposes in Hong Kong's legal framework. Here are the key differences:
- Legal Scope: An Affidavit and Indemnity Agreement combines sworn statements with protection promises, while a simple affidavit only contains sworn statements without protective provisions
- Purpose: The combined agreement specifically handles lost document situations and provides protection to issuing parties, whereas an affidavit serves as a general sworn statement for any factual declaration
- Legal Effect: The combined agreement creates both evidence and a binding promise of compensation, while an affidavit only provides evidence
- Usage Context: Banks and companies typically require the combined agreement for document replacement, but might accept a simple affidavit for routine declarations
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