Deed Of Indemnity And Release Template for Nigeria

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Key Requirements PROMPT example:

Deed Of Indemnity And Release

"I need a Deed of Indemnity and Release between ABC Manufacturing Limited and XYZ Construction Ltd for a major construction project in Lagos, where ABC will indemnify XYZ against all claims arising from the use of ABC's proprietary construction materials, with the deed to be effective from March 1, 2025."

Document background
The Deed of Indemnity and Release is a vital legal instrument in Nigerian business and commercial relationships, typically used when parties need to allocate risk and formally settle or waive potential claims. This document is particularly relevant in scenarios such as corporate restructuring, settlement of disputes, M&A transactions, or when terminating business relationships. The deed must comply with Nigerian legal requirements, including proper execution, witnessing, and stamping under relevant legislation such as the Stamp Duties Act and Contract Law Act. It provides a comprehensive framework for protecting one party against specific losses while simultaneously obtaining a release from claims, making it an essential tool for risk management and dispute resolution in Nigerian business operations.
Suggested Sections

1. Parties: Identifies and defines all parties to the deed, including the Indemnifier and the Indemnified Party

2. Background: Recitals explaining the context and circumstances leading to the need for the indemnity and release

3. Definitions and Interpretation: Defines key terms used throughout the deed and establishes interpretation principles

4. Indemnity: Details the scope and nature of the indemnity being provided, including specific risks or losses covered

5. Release: Specifies the terms of release, including what claims or rights are being released

6. Duration: Specifies how long the indemnity obligations will remain in effect

7. Enforcement: Describes the mechanisms for enforcing the indemnity obligations

8. Representations and Warranties: Statements of fact and promises made by the parties regarding their capacity and authority

9. Governing Law and Jurisdiction: Specifies Nigerian law as governing law and establishes jurisdiction for disputes

10. Execution: Formal execution block meeting Nigerian deed requirements including witnesses

Optional Sections

1. Insurance: Required when specific insurance obligations are imposed on the indemnifying party

2. Third Party Rights: Include when the indemnity may affect or benefit third parties

3. Confidentiality: Include when the indemnity relates to confidential information or requires confidential treatment

4. Assignment: Include when there's a need to restrict or permit the transfer of rights under the deed

5. Severability: Include when there's a need to ensure remaining provisions survive if some are found invalid

6. Force Majeure: Include when certain events should excuse performance of indemnity obligations

7. Notices: Include when formal notice procedures need to be established between parties

Suggested Schedules

1. Schedule 1 - Specific Indemnified Matters: Detailed list of specific events, claims, or circumstances covered by the indemnity

2. Schedule 2 - Excluded Claims: List of specific claims or circumstances explicitly excluded from the indemnity

3. Schedule 3 - Claims Procedure: Detailed procedure for making and handling indemnity claims

4. Appendix A - Related Agreements: Copies or references to related agreements affecting the indemnity

5. Appendix B - Supporting Documents: Any relevant supporting documents referenced in the main deed

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 Industries

Financial Services

Construction

Manufacturing

Oil and Gas

Real Estate

Technology

Healthcare

Transportation and Logistics

Mining

Professional Services

Insurance

Telecommunications

Relevant Teams

Legal

Compliance

Risk Management

Corporate Secretariat

Executive Leadership

Finance

Operations

Business Development

Project Management

Insurance

Relevant Roles

Legal Counsel

Corporate Secretary

Risk Manager

Compliance Officer

Chief Executive Officer

Chief Financial Officer

Chief Legal Officer

Contract Manager

Business Development Manager

Project Manager

Operations Director

Managing Director

Company Director

General Counsel

Claims Manager

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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