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Deductible Indemnity Agreement
"I need a Deductible Indemnity Agreement for my construction company in Singapore, with a S$50,000 deductible threshold and specific provisions for equipment damage claims arising from third-party contractors."
1. Parties: Identification and details of the indemnifier and indemnitee
2. Background: Context and purpose of the indemnity arrangement
3. Definitions: Key terms used throughout the agreement
4. Scope of Indemnity: Specific losses, claims, and circumstances covered
5. Deductible Amount: Specification of the deductible amount and calculation method
6. Claims Process: Procedure for making and handling indemnity claims
7. Duration: Term of the agreement and survival provisions
1. Insurance Requirements: Optional section specifying insurance obligations when parties need to maintain specific insurance coverage
2. Security Provisions: Optional section detailing additional security for indemnity obligations when additional financial security is required
3. Subrogation Rights: Optional section covering rights to pursue third parties when recovery from third parties might be relevant
1. Schedule of Covered Events: Detailed list of circumstances triggering indemnity
2. Deductible Calculation Schedule: Detailed methodology for calculating deductible amounts
3. Claims Procedure: Detailed process flow for claims handling
4. Insurance Certificates: Copies of relevant insurance policies and certificates
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