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Indemnity Contract

Indemnity Contract Template for New Zealand

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Key Requirements PROMPT example:

Indemnity Contract

"I need an Indemnity Contract for my construction company to protect against third-party claims and property damage when working on a major commercial building project in Auckland, with coverage starting from March 2025."

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Document background
The Indemnity Contract serves as a fundamental risk allocation tool in commercial relationships under New Zealand law. It is commonly used when parties need to clearly define who bears specific risks and financial responsibilities in business transactions or ongoing commercial relationships. This document becomes essential in situations involving potential liability exposure, such as corporate transactions, service agreements, or construction projects. The contract typically includes detailed provisions on the scope of indemnification, claim procedures, and limitations, all aligned with New Zealand legal requirements and commercial practices. The agreement is particularly important for businesses seeking to manage their risk exposure while ensuring compliance with New Zealand regulatory frameworks, including the Contract and Commercial Law Act 2017 and industry-specific regulations.
Suggested Sections

1. Parties: Identifies and defines all parties to the indemnity agreement, including full legal names and addresses

2. Background: Provides context for the indemnity arrangement and describes the underlying relationship between the parties

3. Definitions: Defines key terms used throughout the agreement for clarity and precision

4. Scope of Indemnity: Clearly defines what losses, damages, or liabilities are covered by the indemnity

5. Trigger Events: Specifies the circumstances or events that will trigger the indemnity obligations

6. Indemnification Process: Details the procedure for making claims under the indemnity, including notice requirements and timing

7. Limitations and Exclusions: Specifies what is not covered by the indemnity and any caps on liability

8. Duration: Specifies how long the indemnity remains in effect and any survival provisions

9. Claims Handling: Outlines the process for handling and defending claims covered by the indemnity

10. Governing Law and Jurisdiction: Specifies that New Zealand law governs the agreement and determines jurisdiction for disputes

Optional Sections

1. Insurance Requirements: Specifies any insurance policies that must be maintained to support the indemnity obligations

2. Security: Details any security arrangements required to support the indemnity, such as guarantees or bonds

3. Assignment: Addresses whether and how the indemnity rights and obligations can be transferred

4. Dispute Resolution: Provides for alternative dispute resolution mechanisms before litigation

5. Multiple Parties: Additional provisions for when there are multiple indemnitors or indemnitees

6. Confidentiality: Provisions for maintaining confidentiality of information shared in relation to indemnity claims

7. Force Majeure: Provisions for handling extraordinary events that may affect the indemnity obligations

Suggested Schedules

1. Schedule 1 - Defined Terms: Comprehensive list of defined terms and their meanings

2. Schedule 2 - Claim Form Template: Standard form for submitting indemnity claims

3. Schedule 3 - Excluded Losses: Detailed list of losses and circumstances explicitly excluded from the indemnity

4. Schedule 4 - Notice Requirements: Detailed procedures and timeframes for giving notices under the agreement

5. Schedule 5 - Security Details: Details of any security arrangements, including guarantees or bonds

6. Appendix A - Insurance Requirements: Detailed specifications of required insurance coverage

7. Appendix B - Claims Procedures: Step-by-step procedures for processing and handling claims

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions






























Clauses




























Relevant Industries

Construction and Infrastructure

Financial Services

Professional Services

Manufacturing

Technology and Software

Healthcare

Energy and Resources

Transport and Logistics

Real Estate and Property

Insurance

Mining and Resources

Retail and Consumer Goods

Agriculture and Primary Industries

Relevant Teams

Legal

Risk Management

Finance

Compliance

Operations

Commercial

Procurement

Insurance

Corporate Governance

Project Management

Business Development

Executive Leadership

Relevant Roles

Legal Counsel

Risk Manager

Commercial Director

Contract Manager

Chief Financial Officer

Chief Executive Officer

Compliance Officer

Insurance Manager

Project Manager

Operations Director

General Counsel

Corporate Secretary

Business Development Manager

Procurement Manager

Financial Controller

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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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