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Insurance Hold Harmless Agreement
"Need an Insurance Hold Harmless Agreement for a construction project in Riyadh starting March 2025, where our company is the main contractor and we need protection against subcontractor-related risks, with minimum insurance coverage of 10 million SAR for general liability."
1. Parties: Identification of all parties to the agreement, including full legal names, addresses, and commercial registration numbers
2. Background: Context of the agreement, relationship between parties, and purpose of the hold harmless arrangement
3. Definitions: Detailed definitions of key terms used throughout the agreement, including insurance-related terminology
4. Scope of Agreement: Clear delineation of the activities, projects, or relationships covered by the hold harmless provisions
5. Indemnification Provisions: Detailed provisions specifying the nature and extent of indemnification obligations
6. Insurance Requirements: Specific insurance coverage requirements, including types of insurance, minimum coverage amounts, and insurer qualifications
7. Duration and Termination: Term of the agreement and circumstances under which it may be terminated
8. Notices: Procedures for giving formal notices under the agreement
9. Governing Law and Jurisdiction: Specification of Saudi law as governing law and jurisdiction for dispute resolution
10. Execution: Signature blocks and execution formalities compliant with Saudi law
1. Multiple Party Provisions: Additional provisions for agreements involving more than two parties, specifying relationships and obligations between multiple parties
2. Regulatory Compliance: Specific provisions addressing compliance with particular regulatory requirements, if applicable to the specific industry or activity
3. Force Majeure: Provisions addressing extraordinary events that may affect the parties' abilities to perform their obligations
4. Assignment and Novation: Provisions regarding the ability to transfer rights and obligations under the agreement
5. Confidentiality: Provisions protecting sensitive information disclosed in relation to the agreement
6. Security Requirements: Additional security or financial guarantee requirements beyond insurance coverage
7. Shariah Compliance: Specific provisions ensuring compliance with Islamic law principles, if required for particular activities or parties
1. Schedule 1 - Insurance Certificates: Copies of required insurance certificates and policies
2. Schedule 2 - Scope of Covered Activities: Detailed description of activities, operations, or projects covered by the hold harmless provisions
3. Schedule 3 - Insurance Requirements: Detailed specifications of required insurance coverage, including types, amounts, and terms
4. Schedule 4 - Form of Notice: Template for formal notices required under the agreement
5. Schedule 5 - Contact Details: Detailed contact information for all parties and their representatives
6. Appendix A - Risk Assessment: Technical assessment of risks covered by the agreement
7. Appendix B - Regulatory Approvals: Copies of any required regulatory approvals or permits
Authors
Construction
Oil & Gas
Manufacturing
Transportation & Logistics
Healthcare
Real Estate Development
Infrastructure
Mining
Aviation
Maritime
Professional Services
Technology
Financial Services
Legal
Risk Management
Compliance
Insurance
Operations
Finance
Health & Safety
Commercial
Corporate Governance
Claims
Business Development
Procurement
Risk Manager
Legal Counsel
Compliance Officer
Insurance Manager
Contract Manager
Project Manager
Chief Financial Officer
Operations Director
Health and Safety Manager
Commercial Director
General Counsel
Business Development Manager
Claims Manager
Corporate Secretary
Chief Risk Officer
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