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Deductible Indemnity Agreement
"I need a Deductible Indemnity Agreement for my construction company operating in Western Australia, with a per-occurrence deductible of AUD 50,000 and specific provisions for workplace safety incidents, to be effective from March 1, 2025."
1. Parties: Identifies and provides full details of all parties to the agreement
2. Background: Sets out the context and purpose of the agreement, including the relationship between the parties
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation principles
4. Deductible Amount: Specifies the deductible amount and how it applies to claims
5. Indemnification Obligations: Details the scope of indemnity, including what losses are covered and excluded
6. Claims Procedure: Outlines the process for making claims, including notification requirements and timing
7. Payment Terms: Specifies how and when payments must be made, including the deductible and any additional costs
8. Representations and Warranties: States the representations and warranties made by each party
9. Term and Termination: Specifies the duration of the agreement and circumstances for termination
10. Dispute Resolution: Sets out the process for resolving disputes between the parties
11. Governing Law and Jurisdiction: Specifies that Australian law governs and identifies the relevant jurisdiction
12. General Provisions: Standard boilerplate clauses including notices, assignment, and entire agreement
1. Security Arrangements: Include when additional security for the deductible payment is required, such as bank guarantees or security deposits
2. Insurance Requirements: Include when specific insurance policies must be maintained by either party
3. Confidentiality: Include when parties need to exchange sensitive information during the claims process
4. Third Party Rights: Include when third parties may have rights under the agreement
5. Force Majeure: Include when protection against unforeseen events affecting performance is needed
6. Step-In Rights: Include when one party needs the right to take over certain obligations in specific circumstances
7. Reporting Requirements: Include when regular reporting of claims or loss experience is required
1. Schedule 1 - Calculation of Deductible: Detailed methodology for calculating the deductible amount, including any adjustments
2. Schedule 2 - Claims Documentation Requirements: Lists all required documentation and evidence needed to support claims
3. Schedule 3 - Excluded Claims: Detailed list of claims or circumstances excluded from the indemnity
4. Schedule 4 - Contact Details and Notice Requirements: Contact information for key personnel and specific notice requirements
5. Schedule 5 - Form of Claim Notice: Template form for submitting claims under the agreement
6. Appendix A - Security Documentation: Forms and requirements for any security arrangements
7. Appendix B - Insurance Certificates: Copies or details of required insurance policies
Authors
Annual Period
Authorised Representative
Business Day
Claim
Claim Notice
Commencement Date
Confidential Information
Covered Event
Deductible Amount
Effective Date
Excluded Claims
Force Majeure Event
Governmental Authority
Indemnified Party
Indemnifying Party
Indemnified Loss
Insurance Policy
Insured Event
Interest Rate
Liability
Loss
Material Adverse Effect
Notice
Payment Date
Per Occurrence Deductible
Permitted Purpose
Policy Period
Related Claims
Representatives
Security
Specified Jurisdiction
Supporting Documentation
Term
Territory
Third Party Claim
Threshold Amount
Trigger Event
Underlying Insurance
Working Hours
Definitions
Indemnification
Deductible Application
Claims Procedure
Payment Terms
Security Arrangements
Insurance Requirements
Representations and Warranties
Covenants
Notice Requirements
Confidentiality
Data Protection
Force Majeure
Term and Termination
Assignment
Subrogation
Third Party Rights
Dispute Resolution
Governing Law
Jurisdiction
Entire Agreement
Severability
Waiver
Amendment
Costs and Expenses
Counterparts
Authority
Relationship of Parties
Survival
Notices
Insurance
Financial Services
Construction
Mining
Manufacturing
Transportation and Logistics
Healthcare
Professional Services
Energy and Utilities
Property Development
Infrastructure
Legal
Risk Management
Finance
Insurance
Compliance
Treasury
Operations
Claims
Underwriting
Corporate Affairs
Risk Manager
Legal Counsel
Insurance Manager
Chief Financial Officer
Compliance Officer
Claims Manager
Corporate Treasurer
Operations Director
Contract Manager
Chief Risk Officer
Insurance Broker
Underwriter
General Counsel
Finance Director
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