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1. Parties: Identification and details of the indemnifier and indemnitee
2. Background: Context of the agreement, including the relationship between parties and circumstances necessitating the indemnity
3. Definitions: Definitions of key terms used throughout the agreement, including 'Indemnified Matters', 'Losses', and 'Claims'
4. Scope of Indemnity: Detailed description of what losses, damages, or liabilities are covered by the indemnity
5. Undertakings: Specific promises and commitments made by the indemnifier
6. Duration: Period for which the indemnity remains valid and enforceable
7. Notice Requirements: Procedures for notifying the indemnifier of claims or potential claims
8. Payment Terms: Terms and timing of indemnity payments and reimbursements
9. Limitations: Any caps, exclusions, or limitations on the indemnity obligations
10. Governing Law and Jurisdiction: Specification of Nigerian law as governing law and jurisdiction for disputes
11. Execution: Signature blocks and execution formalities
1. Insurance: Requirements for insurance coverage to support the indemnity, used when specific insurance backing is required
2. Security: Provisions for additional security or guarantees, used when additional financial protection is needed
3. Third Party Rights: Rights of third parties to enforce the indemnity, included when third party beneficiaries are involved
4. Step-In Rights: Rights of the indemnitee to take control of claims or proceedings, used in complex commercial arrangements
5. Dispute Resolution: Alternative dispute resolution procedures, included when parties prefer arbitration or mediation
6. Force Majeure: Events excusing performance, included when specific circumstances might affect indemnity obligations
7. Assignment: Rights to assign the benefit of the indemnity, included when transfer rights are important
1. Schedule 1 - Indemnified Matters: Detailed list or description of specific matters, events, or circumstances covered by the indemnity
2. Schedule 2 - Claims Procedure: Detailed procedure for making and handling indemnity claims
3. Schedule 3 - Calculation of Losses: Methodology for calculating losses and damages under the indemnity
4. Appendix A - Form of Notice: Template for formal notices under the agreement
5. Appendix B - Supporting Documents: List of relevant background documents or referenced agreements
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