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Subrogation Agreement
"I need a Subrogation Agreement under German law for our insurance company to take over the rights of our corporate client in the manufacturing sector, following our payment of €2.5M for equipment damage caused by a third-party contractor during installation."
1. Parties: Identification of the Subrogating Party (typically insurer) and the Subrogor (typically insured)
2. Background: Context of the original claim, payment made by the insurer, and basis for subrogation
3. Definitions: Key terms used throughout the agreement, including 'Claim', 'Loss', 'Recovery Rights', and 'Subrogated Rights'
4. Subject Matter of Subrogation: Detailed description of the rights, claims, and remedies being transferred
5. Consideration: Statement of consideration paid or to be paid for the subrogation
6. Transfer of Rights: Legal mechanics of the transfer of rights and effective date
7. Representations and Warranties: Confirmations regarding ownership of claims, no prior assignment, and authority to transfer
8. Cooperation Obligations: Duties of the Subrogor to assist in pursuing claims
9. Information and Documentation: Requirements for sharing relevant information and documents
10. Costs and Expenses: Allocation of costs related to the pursuit of subrogated claims
11. Governing Law and Jurisdiction: Specification of German law application and jurisdiction
12. Execution: Signature blocks and execution requirements
1. Recovery Sharing: Terms for sharing any recoveries if not 100% subrogation - used when partial rights are transferred
2. Third Party Rights: Provisions regarding rights of third parties - used when other parties may have interests in the claims
3. Confidentiality: Confidentiality obligations - used for sensitive commercial matters
4. Data Protection: GDPR and data protection provisions - used when personal data is involved
5. Further Assurance: Obligations to execute additional documents - used for complex subrogations
6. Notices: Formal communication requirements - used in larger commercial agreements
7. Severability: Provisions for partial invalidity - used in complex agreements
8. Assignment: Rights to further assign subrogated claims - used when further transfers may be needed
1. Schedule 1 - Claim Details: Detailed description of the underlying claim and circumstances
2. Schedule 2 - Payment Evidence: Documentation of payments made by the subrogating party
3. Schedule 3 - Relevant Documents: List and copies of key documents relating to the claim
4. Schedule 4 - Power of Attorney: Form of power of attorney for pursuing claims
5. Appendix 1 - Contact Details: Contact information for key personnel involved in claim pursuit
6. Appendix 2 - Procedure for Cooperation: Detailed procedures for cooperation between parties
Authors
Applicable Law
Assigned Rights
Business Day
Claim
Claim Documents
Commencement Date
Compensation
Confidential Information
Costs
Debtor
Effective Date
Enforcement Rights
Insurance Policy
Insured Event
Legal Proceedings
Loss
Original Claim
Parties
Payment
Recovery
Recovery Costs
Recovery Proceeds
Recovery Rights
Related Rights
Relevant Documents
Subrogated Claims
Subrogated Rights
Subrogating Party
Subrogor
Supporting Documents
Third Party
Third Party Claim
Transfer Date
Underlying Contract
Definitions
Interpretation
Transfer of Rights
Consideration
Representations and Warranties
Cooperation
Information Sharing
Documentation Requirements
Payment Terms
Recovery Rights
Cost Allocation
Further Assurance
Confidentiality
Data Protection
Assignment
Third Party Rights
Notices
Amendment
Severability
Entire Agreement
Force Majeure
Governing Law
Jurisdiction
Dispute Resolution
Execution
Insurance
Banking and Financial Services
Manufacturing
Construction
Transportation and Logistics
Healthcare
Real Estate
Maritime and Shipping
Energy
Professional Services
Retail
Automotive
Legal
Claims
Risk Management
Compliance
Insurance Operations
Recovery
Underwriting
Contract Management
Corporate Affairs
Loss Adjustment
Insurance Claims Manager
Legal Counsel
Risk Manager
Claims Adjuster
Compliance Officer
Insurance Underwriter
Recovery Specialist
Corporate Lawyer
Insurance Operations Manager
Claims Recovery Manager
Subrogation Specialist
Contract Manager
Insurance Broker
Chief Risk Officer
Legal Operations Manager
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