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Deed Of Indemnity

Deed Of Indemnity Template for Hong Kong

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Key Requirements PROMPT example:

Deed Of Indemnity

"I need a Deed of Indemnity for my Hong Kong technology company to protect our newly appointed directors against all liabilities arising from their duties, with the deed to take effect from March 1, 2025, and including specific provisions for cyber security incidents."

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Document background
The Deed of Indemnity is a fundamental legal instrument in Hong Kong's commercial landscape, commonly used in various business contexts where one party needs to provide financial protection to another against specific risks or potential losses. This document is particularly relevant in corporate transactions, director appointments, business sales, or project developments where risk allocation is crucial. The deed format provides additional legal protection compared to a simple contract, including a longer limitation period for claims (12 years in Hong Kong instead of 6 years for simple contracts). The document typically specifies the scope of indemnified losses, claim procedures, and payment obligations, often incorporating specific Hong Kong law requirements for valid execution of deeds. It's essential for risk management and can be customized to address particular business needs while ensuring compliance with Hong Kong legal requirements.
Suggested Sections

1. Parties: Identification of the indemnitor (party providing the indemnity) and indemnitee (party being indemnified)

2. Background: Context of the indemnity arrangement, including reference to any related transactions or circumstances necessitating the indemnity

3. Definitions: Defined terms used throughout the deed, including specific definitions of 'Loss', 'Claims', and other key terms

4. Indemnity: Core provision detailing the scope of the indemnity, what losses are covered, and the circumstances under which the indemnity applies

5. Claims Procedure: Process for making claims under the indemnity, including notice requirements and time limits

6. Payment Terms: Timing and method of payment for indemnified amounts

7. Duration: Period for which the indemnity remains effective

8. Limitations: Any caps, exclusions, or limitations on the indemnity obligation

9. Governing Law and Jurisdiction: Specification of Hong Kong law as governing law and jurisdiction for disputes

10. Execution: Formal execution blocks including witness requirements for a valid deed

Optional Sections

1. Security: Include when additional security (such as a charge over assets) is required to support the indemnity

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

3. Cross-Indemnity: Include when parties are providing reciprocal indemnities to each other

4. Assignment: Include when transfer rights need to be specifically addressed

5. Step-In Rights: Include when the indemnified party needs rights to take control of underlying claims or proceedings

6. Third Party Rights: Include when the indemnity is intended to benefit specific third parties

7. Confidentiality: Include when the existence or terms of the indemnity need to remain confidential

Suggested Schedules

1. Schedule 1 - Specified Losses: Detailed list or categories of losses covered by the indemnity

2. Schedule 2 - Claims Procedures: Detailed procedures for making and handling claims under the indemnity

3. Schedule 3 - Related Agreements: List and details of any related agreements giving rise to the indemnity

4. Schedule 4 - Secured Assets: Description of any assets provided as security for the indemnity obligations

5. Appendix A - Form of Notice: Template form for making claims under the indemnity

6. Appendix B - Required Information: List of information and documents required to support claims

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

Banking

Insurance

Real Estate

Construction

Manufacturing

Professional Services

Technology

Healthcare

Energy

Mining

Infrastructure

Retail

Education

Transportation and Logistics

Relevant Teams

Legal

Finance

Risk Management

Compliance

Corporate Secretarial

Operations

Business Development

Investment

Insurance

Treasury

Contracts Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Legal Officer

General Counsel

Legal Director

Company Secretary

Risk Manager

Compliance Officer

Director of Operations

Financial Controller

Corporate Lawyer

Business Development Director

Project Manager

Investment Manager

Trust Manager

Insurance Manager

Contract Manager

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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