Document background
The Indemnity And Undertaking Agreement is a crucial document used in Hong Kong business transactions where one party seeks to protect another against specific risks, losses, or liabilities. It is commonly used in corporate transactions, financial arrangements, and commercial dealings where risk allocation is essential. The agreement, governed by Hong Kong law, typically accompanies primary transaction documents such as share purchase agreements, loan agreements, or service contracts. It contains detailed provisions on the scope of indemnity, claim procedures, and specific undertakings given by the indemnifying party. This document is particularly important in Hong Kong's business environment, where sophisticated risk management and clear allocation of liabilities are essential for commercial transactions.
