Deductible Indemnity Agreement Generator for Australia

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Key Requirements PROMPT example:

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."

Document background
This Deductible Indemnity Agreement is designed for use in situations where parties seek to establish a structured risk-sharing arrangement under Australian law, with one party providing indemnification subject to a specified deductible amount. The agreement is commonly used in commercial relationships where significant risks need to be allocated and managed, particularly in insurance and corporate contexts. It outlines the specific circumstances under which indemnification will be provided, the process for calculating and applying the deductible, detailed claims procedures, and payment obligations. The document ensures compliance with Australian federal and state legislation, including the Insurance Contracts Act 1984 (Cth) and relevant state insurance laws. It is particularly suitable for commercial arrangements requiring sophisticated risk management structures and clear delineation of financial responsibilities between parties.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

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

Relevant legal definitions
Relevant Industries

Insurance

Financial Services

Construction

Mining

Manufacturing

Transportation and Logistics

Healthcare

Professional Services

Energy and Utilities

Property Development

Infrastructure

Relevant Teams

Legal

Risk Management

Finance

Insurance

Compliance

Treasury

Operations

Claims

Underwriting

Corporate Affairs

Relevant Roles

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

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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