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Contribution And Indemnity Agreement

Contribution And Indemnity Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Contribution And Indemnity Agreement

"I need a Contribution and Indemnity Agreement for a UAE-based construction joint venture between three companies (two local, one international) starting March 2025, with specific focus on equitable risk sharing for a major infrastructure project in Dubai, including step-in rights and performance guarantees."

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Document background
The Contribution And Indemnity Agreement is a crucial legal instrument in the UAE business landscape, particularly utilized in scenarios where multiple parties need to formally establish their respective financial obligations and risk-sharing arrangements. This document type is commonly employed in joint ventures, project financing, construction projects, and complex commercial transactions where parties need to clearly define their contribution obligations and mutual indemnification commitments. The agreement must comply with UAE federal laws, including the Civil Code (Federal Law No. 5 of 1985) and Commercial Transactions Law (Federal Law No. 18 of 1993), while also considering specific emirate-level regulations where applicable. It typically includes detailed provisions for contribution mechanisms, triggering events for indemnification, claim procedures, and enforcement measures, making it essential for risk management and liability allocation in significant business transactions.
Suggested Sections

1. Parties: Identification and details of all parties to the agreement, including their legal status and registration information

2. Background: Context of the agreement, including the underlying transaction or relationship giving rise to the contribution and indemnity obligations

3. Definitions and Interpretation: Key terms used throughout the agreement and rules for interpreting the agreement

4. Contribution Obligations: Details of each party's contribution obligations, including amounts, timing, and conditions

5. Indemnification: Scope and extent of indemnification obligations, including triggers and exclusions

6. Payment Mechanics: Procedures and timeframes for making contribution payments and satisfying indemnity obligations

7. Representations and Warranties: Statements of fact and assurances given by each party

8. Claims Procedure: Process for making and responding to contribution and indemnity claims

9. Term and Termination: Duration of the agreement and circumstances under which it can be terminated

10. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for dispute resolution

11. Notices: Procedures for giving formal notices under the agreement

12. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments

Optional Sections

1. Security: Include when contributions or indemnities need to be secured by collateral or guarantees

2. Regulatory Compliance: Add when the agreement involves regulated entities or activities requiring specific compliance provisions

3. Currency and Exchange Rates: Include for cross-border agreements involving multiple currencies

4. Step-In Rights: Add when certain parties need the right to step in and fulfill others' obligations

5. Tax Provisions: Include when tax implications need specific addressing or allocation

6. Force Majeure: Add when parties want specific provisions for handling unforeseen events

7. Confidentiality: Include when sensitive information will be shared in the context of the agreement

8. Anti-corruption and Sanctions: Add for international agreements or when required by corporate policies

Suggested Schedules

1. Party Details: Detailed information about each party, including registration numbers and addresses

2. Contribution Amounts: Detailed breakdown of contribution obligations and calculations

3. Payment Schedule: Timeline and specifics of contribution payments

4. Claim Form Template: Standard form for making contribution or indemnity claims

5. Security Documents: Forms of any security documents required under the agreement

6. Notice Details: Contact information and addresses for notices

7. Underlying Obligations: Details of the underlying obligations or liabilities being shared

8. Process Flow Charts: Visual representations of claim procedures and payment mechanics

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Banking and Financial Services

Construction and Real Estate

Oil and Gas

Infrastructure Development

Manufacturing

Telecommunications

Healthcare

Hospitality and Tourism

Transportation and Logistics

Energy and Utilities

Technology and Software

Professional Services

Relevant Teams

Legal

Finance

Risk Management

Compliance

Corporate Secretariat

Commercial Operations

Business Development

Project Management

Treasury

Corporate Affairs

Relevant Roles

Chief Legal Officer

Legal Director

General Counsel

Contract Manager

Risk Manager

Chief Financial Officer

Finance Director

Project Director

Commercial Director

Joint Venture Manager

Compliance Officer

Corporate Secretary

Senior Legal Counsel

Transaction Manager

Business Development Director

Industries
UAE Federal Law No. 5 of 1985 (Civil Code): Governs civil transactions and establishes general principles of contracts, including formation, validity, interpretation, and termination. Also covers principles of indemnification and joint liability.
UAE Federal Law No. 18 of 1993 (Commercial Transactions Law): Regulates commercial transactions and relationships between business entities, including principles of commercial obligations and guarantees.
UAE Federal Law No. 2 of 2015 (Commercial Companies Law): Relevant for understanding the capacity of companies to enter into contribution and indemnity agreements, and their authority to provide indemnities.
DIFC Law No. 6 of 2004 (Contract Law): Applicable if the agreement involves DIFC entities or is governed by DIFC law, providing specific provisions for contract formation and enforcement in the DIFC.
UAE Federal Law No. 8 of 2004 (Financial Free Zones Law): Relevant when the agreement involves entities in UAE's financial free zones, establishing the framework for commercial activities in these areas.
UAE Federal Law No. 24 of 2006 (Consumer Protection Law): May be relevant if the contribution and indemnity agreement has implications for consumer rights or involves consumer-facing businesses.
UAE Federal Law No. 4 of 2012 (Competition Law): Should be considered if the contribution and indemnity agreement contains provisions that might affect market competition or involve competitive practices.
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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