The Letter of Indemnity Form is a crucial legal instrument in Singapore's commercial landscape, commonly used when parties need to establish clear risk allocation and financial protection mechanisms. This document is particularly relevant when original documentation is unavailable, when special guarantees are required, or when parties need to address specific risk scenarios. The form must comply with Singapore's legal framework, including the Civil Law Act and Contract Law principles. It typically specifies the scope of protection, duration, claim procedures, and any limitations on liability.
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1. Identification of Parties: Full legal names, addresses, and details of the indemnifier and indemnitee
2. Subject Matter: Clear description of the transaction or circumstance requiring indemnity
3. Scope of Indemnity: Precise definition of what losses, damages, and costs are covered by the indemnity
4. Duration: Time period for which the indemnity remains valid and enforceable
5. Execution Block: Signature sections with witness provisions and date of execution
1. Insurance Requirements: Details of required insurance coverage, included when indemnity relates to insurable risks
2. Claim Procedure: Process and requirements for making claims under the indemnity, used in complex transactions
3. Limitations on Liability: Specific caps, exclusions, or restrictions on indemnity coverage, used in high-value transactions
1. Schedule of Specific Risks: Detailed enumeration of specific risks, circumstances, or events covered by the indemnity
2. Schedule of Required Documents: Comprehensive list of supporting documents required for making claims under the indemnity
3. Schedule of Insurance Policies: Details of relevant insurance policies including policy numbers and coverage limits where applicable
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