Document background
The Indemnification Waiver is a crucial legal instrument used in Hong Kong's business environment to manage risk allocation between parties. It is commonly employed in various commercial contexts, from corporate transactions to service agreements, where one party agrees to forfeit their right to seek compensation or reimbursement from another party for specific losses or liabilities. This document must be carefully drafted to comply with Hong Kong's legal framework, particularly the Control of Exemption Clauses Ordinance and related legislation. The waiver typically outlines the scope of rights being relinquished, any exceptions or limitations, and ensures that the terms are clear, unambiguous, and enforceable under Hong Kong law.
