A Deed of Indemnity is commonly used in England and Wales when one party needs to provide comprehensive protection to another against specific risks or liabilities. The deed format is chosen for its longer limitation period and because it doesn't require consideration to be legally binding. Typical situations requiring a Deed of Indemnity include corporate director appointments, commercial transactions, construction projects, and professional services agreements. The document specifies the scope of indemnified matters, claim procedures, and any limitations on the indemnity obligation.
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1. Parties: Identifies the indemnifier and indemnitee with full legal names and addresses
2. Background: Explains the context and purpose of the indemnity
3. Definitions: Defines key terms used throughout the deed
4. Indemnity Clause: Core provision detailing the scope and nature of the indemnity
5. Duration: Specifies how long the indemnity remains in effect
6. Execution: Formal execution block meeting deed requirements
1. Claims Procedure: Details process for making claims under the indemnity - used for complex indemnities or where specific notification requirements exist
2. Insurance: Requirements for insurance coverage - used when indemnity is backed by insurance
3. Limitations: Caps or restrictions on the indemnity - used when parties agree to limit the scope or amount of indemnity
1. Schedule 1 - Indemnified Matters: Detailed list of matters covered by the indemnity
2. Schedule 2 - Claims Procedure: Detailed process for making and handling claims
3. Schedule 3 - Insurance Requirements: Specific insurance requirements and minimum coverage levels
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