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Insurance Hold Harmless Agreement Template for Saudi Arabia

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Key Requirements PROMPT example:

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."

Document background
The Insurance Hold Harmless Agreement is a crucial risk management tool used in Saudi Arabian business transactions where one party seeks to transfer potential liability to another party while ensuring adequate insurance coverage is maintained. This document is particularly important in high-risk industries or complex commercial relationships where clear allocation of risk is essential. The agreement must comply with Saudi Arabian law, including the Cooperative Insurance Companies Control Law and Sharia principles, and typically includes detailed insurance requirements, specific indemnification provisions, and mechanisms for ensuring ongoing compliance. It's commonly used in construction projects, major commercial contracts, and service agreements where significant operational risks need to be managed and clearly allocated between parties.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

Head of Growth (Open Source Law) @ 黑料视频 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions





































Clauses































Relevant Industries

Construction

Oil & Gas

Manufacturing

Transportation & Logistics

Healthcare

Real Estate Development

Infrastructure

Mining

Aviation

Maritime

Professional Services

Technology

Financial Services

Relevant Teams

Legal

Risk Management

Compliance

Insurance

Operations

Finance

Health & Safety

Commercial

Corporate Governance

Claims

Business Development

Procurement

Relevant Roles

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

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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