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Deed Of Indemnity for Ireland

Deed Of Indemnity Template for Ireland

A formal legal document governed by Irish law that creates a binding obligation where one party (the indemnifier) agrees to compensate, protect, and hold harmless another party (the indemnified party) against specified losses, damages, or liabilities. The document must comply with Irish legal requirements for deeds, including proper execution and witnessing formalities. It contains detailed provisions regarding the scope of indemnity, claim procedures, payment terms, and enforcement mechanisms, providing a robust framework for risk allocation between parties.

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What is a Deed Of Indemnity?

The Deed of Indemnity is a crucial risk management tool in Irish business transactions, commonly used in corporate restructuring, M&A deals, director appointments, and commercial contracts. It provides a legally enforceable commitment from one party to compensate another for specified losses or liabilities. This document type requires strict adherence to Irish legal formalities for deeds, including proper execution and witnessing requirements under the Land and Conveyancing Law Reform Act 2009. The deed typically specifies trigger events for the indemnity, claim procedures, payment mechanisms, and any limitations or conditions. It's particularly valuable in scenarios where parties need stronger protection than standard contractual warranties, as deeds have a longer limitation period (12 years in Ireland) and don't require consideration to be enforceable.

What sections should be included in a Deed Of Indemnity?

1. Parties: Identifies and defines the Indemnifier(s) and Indemnified Party(ies) with full legal names and addresses

2. Background: Explains the context and purpose of the indemnity, including reference to any related agreements or circumstances

3. Definitions: Defines key terms used throughout the deed, including 'Loss', 'Claims', and specific terms relevant to the indemnity

4. Indemnity: Sets out the core indemnity obligations, including scope and extent of the indemnity protection

5. Payment Terms: Specifies when and how indemnity payments must be made, including timing and method of payment

6. Claims Procedure: Details the process for making claims under the indemnity, including notice requirements and time limits

7. Duration: Specifies the term of the indemnity and any survival provisions

8. Enforcement: Contains provisions regarding enforcement of the deed, including governing law and jurisdiction

9. Execution: Formal execution blocks for signing as a deed, including witness requirements

What sections are optional to include in a Deed Of Indemnity?

1. Multiple Indemnifiers: Required when there are multiple indemnifiers, specifying whether liability is joint and several

2. Limitations: Optional caps or restrictions on the indemnity, used when parties agree to limit liability

3. Insurance: Required when indemnifier must maintain specific insurance coverage

4. Security: Used when additional security (such as guarantees or charges) is provided to support the indemnity

5. Step-In Rights: Optional provisions allowing indemnifier to take control of claims or proceedings

6. Assignment: Required if parties wish to allow (or prohibit) transfer of rights under the deed

7. Subrogation: Optional provisions regarding indemnifier's rights of subrogation

8. Tax: Required when specific tax treatment of indemnity payments needs to be addressed

What schedules should be included in a Deed Of Indemnity?

1. Schedule 1 - Specific Indemnified Matters: Detailed list of specific matters, losses or claims covered by the indemnity

2. Schedule 2 - Claims Procedure: Detailed process for notification and handling of claims, including time limits and required information

3. Schedule 3 - Form of Notice: Template form for making claims under the indemnity

4. Schedule 4 - Security Details: Details of any security provided to support the indemnity obligations

5. Appendix A - Related Agreements: Copies or details of any related agreements referenced in the deed

Authors

Alex Denne

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

Jurisdiction

Ireland

Publisher

Ƶ

Document Type

Indemnity Agreement

Sector

Insurance

Cost

Free to use
Relevant legal definitions








































Clauses





























Relevant Industries

Financial Services

Construction

Real Estate

Insurance

Banking

Corporate Services

Manufacturing

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Healthcare

Energy

Professional Services

Transportation

Relevant Teams

Legal

Finance

Risk Management

Compliance

Corporate Governance

Treasury

Commercial

Insurance

Operations

Company Secretariat

Relevant Roles

Chief Legal Officer

Legal Director

Corporate Lawyer

General Counsel

Risk Manager

Compliance Officer

Company Secretary

Chief Financial Officer

Finance Director

Commercial Director

Contract Manager

Insurance Manager

Director of Operations

Chief Executive Officer

Board Director

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