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Release And Indemnity Agreement

Release And Indemnity Agreement Template for Hong Kong

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Key Requirements PROMPT example:

Release And Indemnity Agreement

"I need a Release and Indemnity Agreement under Hong Kong law for a construction project completion, where our company (ABC Construction Ltd) will be released from future claims related to the completed works at Central Tower, while providing indemnity to the property owner (Central Properties Limited) for any third-party claims arising after January 2025."

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Document background
The Release And Indemnity Agreement is a crucial legal instrument used in Hong Kong's business environment when parties need to resolve existing disputes, manage potential risks, or allocate future liabilities. This document is particularly relevant in situations involving corporate transactions, dispute settlements, project completions, or risk management arrangements. It combines two key elements: a release component that discharges specified existing or potential claims, and an indemnity component that provides protection against future claims or losses. The agreement must comply with Hong Kong's legal framework, including the Contract Ordinance (Cap. 23) and the Control of Exemption Clauses Ordinance (Cap. 71), ensuring that all provisions are enforceable under local law. It's commonly used in both commercial and individual contexts, requiring careful drafting to balance the interests of all parties while maintaining legal effectiveness.
Suggested Sections

1. Parties: Identifies and defines all parties to the agreement, including their full legal names, addresses, and any relevant registration numbers

2. Background: Provides context for the agreement, including relevant history, circumstances, or disputes leading to the need for the release and indemnity

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Release: Details the scope and nature of the release, including specific claims or rights being released

5. Indemnification: Specifies the terms of indemnification, including scope, limitations, and procedures

6. Consideration: States the consideration being provided in exchange for the release and indemnity

7. Representations and Warranties: Contains statements of fact and promises made by each party

8. Governing Law and Jurisdiction: Specifies Hong Kong as the governing law and defines jurisdiction for disputes

9. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments

Optional Sections

1. Confidentiality: Include when the release involves sensitive information or trade secrets that need protection

2. Insurance: Add when specific insurance requirements are needed to support the indemnification obligations

3. Survival: Include when certain provisions need to survive the termination of the agreement

4. Third Party Rights: Include when the release or indemnity affects rights of parties not directly party to the agreement

5. Dispute Resolution: Add detailed alternative dispute resolution procedures when preferred over direct court proceedings

6. Further Assurance: Include when parties need to take additional actions to give effect to the release or indemnity

Suggested Schedules

1. Schedule of Released Claims: Detailed list of specific claims, disputes, or rights being released

2. Schedule of Indemnified Matters: Comprehensive list of matters covered by the indemnification

3. Schedule of Related Agreements: List of other agreements affected by or relevant to the release and indemnity

4. Schedule of Excluded Claims: List of specific claims or matters explicitly excluded from the release or indemnity

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

Manufacturing

Professional Services

Real Estate

Technology

Healthcare

Insurance

Retail

Energy

Transportation

Education

Hospitality

Mining and Resources

Telecommunications

Relevant Teams

Legal

Risk Management

Compliance

Finance

Operations

Corporate Secretariat

Insurance

Claims

Business Development

Commercial

Executive Leadership

Project Management

Relevant Roles

Legal Counsel

Risk Manager

Compliance Officer

Chief Legal Officer

Contract Manager

Corporate Secretary

Chief Financial Officer

Project Manager

Business Development Manager

Operations Director

Insurance Manager

Claims Manager

General Counsel

Commercial Director

CEO

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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