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Hold Harmless And Indemnity Agreement
"I need a Hold Harmless and Indemnity Agreement under Saudi Arabian law for a construction project where my company (Al Mahir Construction Ltd) will be the main contractor indemnifying the project owner (Saudi Development Corp) against all third-party claims arising from construction activities starting March 2025."
1. Parties: Identifies and defines all parties to the agreement, including full legal names, addresses, and registration details
2. Background: Explains the context and purpose of the agreement, including the relationship between the parties
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Scope of Indemnity: Clearly outlines the extent and limitations of the indemnification obligations
5. Terms of Indemnification: Details the specific circumstances under which the indemnity applies and the obligations of the indemnifying party
6. Exclusions: Specifies situations and circumstances not covered by the indemnity
7. Duration: Specifies the term of the agreement and any survival provisions
8. Notice Requirements: Outlines procedures for notifying parties of claims or circumstances that might lead to claims
9. Governing Law and Jurisdiction: Specifies Saudi Arabian law as governing law and defines jurisdiction for dispute resolution
10. Execution: Formal signing section including space for signatures, witnesses, and dates
1. Insurance Requirements: Details any insurance obligations required to support the indemnity - include when specific insurance coverage is required
2. Third Party Rights: Addresses rights of third parties under the agreement - include when third parties might have enforcement rights
3. Dispute Resolution: Specifies alternative dispute resolution procedures - include when parties prefer arbitration or mediation
4. Force Majeure: Addresses circumstances beyond parties' control - include when relevant to the indemnified activities
5. Confidentiality: Protects sensitive information shared under the agreement - include when confidential information is involved
6. Assignment: Controls ability to transfer rights/obligations - include when transfer restrictions are needed
7. Shariah Compliance Declaration: Explicit statement of Shariah compliance - include when dealing with Islamic financial institutions
1. Schedule 1: Scope of Indemnified Activities: Detailed list of activities, operations, or circumstances covered by the indemnity
2. Schedule 2: Claims Procedures: Step-by-step procedures for making and handling indemnity claims
3. Schedule 3: Insurance Requirements: Specific insurance types, coverage amounts, and provider requirements
4. Appendix A: Related Agreements: List of other agreements referenced or relevant to the indemnity
5. Appendix B: Contact Details: Designated contact persons and their details for notices and claims
6. Appendix C: Form of Notice: Template for formal notices under the agreement
Authors
Construction
Oil & Gas
Manufacturing
Real Estate Development
Healthcare
Transportation & Logistics
Financial Services
Technology
Infrastructure Development
Energy
Mining
Professional Services
Telecommunications
Aviation
Legal
Risk Management
Compliance
Operations
Finance
Commercial
Procurement
Insurance
Corporate Affairs
Project Management
Business Development
Legal Counsel
Risk Manager
Compliance Officer
Contract Manager
Project Manager
Operations Director
Chief Financial Officer
Chief Legal Officer
Commercial Director
Business Development Manager
Corporate Secretary
General Manager
Insurance Manager
Procurement Manager
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