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Standard Indemnity Agreement Template for Ireland

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Key Requirements PROMPT example:

Standard Indemnity Agreement

"I need a Standard Indemnity Agreement to protect my technology company against potential intellectual property claims arising from a software development partnership with a third-party vendor, with coverage starting January 2025."

Document background
The Standard Indemnity Agreement is a crucial legal instrument used in Irish business transactions to allocate risk and provide protection against potential losses or liabilities. This document is commonly employed when one party needs to protect another from specific risks, financial losses, or legal liabilities that may arise from business operations, transactions, or specific events. The agreement must comply with Irish law, including the Civil Liability Act 1961 and relevant common law principles, while incorporating essential elements such as clear identification of parties, scope of indemnity, claim procedures, and payment terms. It's particularly vital in commercial transactions, corporate restructuring, service agreements, and other business arrangements where risk allocation is a key consideration. The Standard Indemnity Agreement can be customized to address specific industry requirements while maintaining its core purpose of providing clear, enforceable indemnification provisions.
Suggested Sections

1. Parties: Identifies and defines the indemnifier and indemnitee with their full legal names and addresses

2. Background: Sets out the context and commercial purpose of the indemnity agreement

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

4. Scope of Indemnity: Clearly defines what risks, losses, or liabilities are covered by the indemnity

5. Indemnification Obligations: Details the specific obligations of the indemnifier, including timing and extent of coverage

6. Exclusions: Specifies what events or circumstances are explicitly excluded from the indemnity coverage

7. Claims Procedure: Outlines the process for making and handling indemnity claims, including notice requirements

8. Duration: Specifies the term of the agreement and any survival provisions

9. Payment Terms: Details the timing and method of indemnity payments

10. Governing Law and Jurisdiction: Specifies Irish law as governing law and establishes jurisdiction for disputes

11. Entire Agreement: Standard boilerplate confirming this document represents the complete agreement between parties

12. Execution: Signature blocks and execution formalities

Optional Sections

1. Insurance Requirements: Required when the indemnifier must maintain specific insurance coverage to support the indemnity

2. Security Provisions: Used when additional security (such as guarantees or bonds) is required to support the indemnity

3. Subrogation Rights: Included when dealing with insurance-related indemnities or complex recovery rights

4. Third Party Rights: Required when the indemnity might affect or benefit third parties

5. Force Majeure: Included when certain extraordinary events should suspend or modify indemnity obligations

6. Confidentiality: Added when the agreement involves sensitive commercial information

7. Assignment and Transfer: Required when parties need flexibility to transfer rights or obligations

8. Dispute Resolution: Added when specific dispute resolution procedures (like mediation) are required before litigation

Suggested Schedules

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

2. Schedule 2 - Claim Form Template: Standard form for submitting indemnity claims

3. Schedule 3 - Contact Details: List of key contacts and notice addresses for both parties

4. Schedule 4 - Insurance Requirements: Detailed specifications of required insurance coverage, if applicable

5. Appendix A - Supporting Documents: Any relevant background documents or agreements referenced in the indemnity

6. Appendix B - Calculation Methodology: If applicable, detailed methodology for calculating indemnity amounts

Authors

Alex Denne

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

Relevant legal definitions































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Relevant Industries

Financial Services

Insurance

Construction

Manufacturing

Technology

Professional Services

Healthcare

Real Estate

Energy

Transportation

Retail

Education

Telecommunications

Agriculture

Mining

Relevant Teams

Legal

Risk Management

Compliance

Finance

Operations

Corporate Secretariat

Business Development

Contract Management

Insurance

Treasury

Commercial

Corporate Affairs

Procurement

Relevant Roles

Legal Counsel

Risk Manager

Compliance Officer

Chief Financial Officer

Contract Manager

Company Secretary

Business Development Manager

Operations Director

Project Manager

Insurance Manager

Corporate Lawyer

Financial Controller

Commercial Director

Chief Executive Officer

Chief Legal Officer

Chief Risk Officer

Chief Operating Officer

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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