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General Indemnity Agreement
"I need a General Indemnity Agreement under Nigerian law for my construction company acting as indemnitor to protect a major bank against any losses arising from our upcoming infrastructure project financing, with special attention to environmental risks and local community claims."
1. Parties: Identification and details of the Indemnitor and Indemnitee
2. Background: Context of the agreement and relationship between the parties
3. Definitions: Detailed definitions of key terms used throughout the agreement
4. Scope of Indemnity: Precise description of what losses, damages, or liabilities are covered by the indemnity
5. Indemnification Obligations: Detailed terms of the indemnification, including trigger events and extent of coverage
6. Notice Requirements: Procedures and timeframes for notifying claims or potential claims
7. Defense and Settlement: Rights and obligations regarding legal defense and settlement of claims
8. Payment Terms: Terms and conditions for making indemnity payments
9. Duration: Term of the agreement and survival of obligations
10. Representations and Warranties: Standard representations and warranties from both parties
11. Governing Law and Jurisdiction: Specification of Nigerian law as governing law and choice of courts
12. Dispute Resolution: Procedures for resolving disputes between parties
13. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments
1. Security Provisions: Used when additional security or collateral is required to support the indemnity obligation
2. Insurance Requirements: Include when specific insurance coverage is required to back the indemnity
3. Multiple Indemnitors: Required when there are multiple parties providing indemnity, establishing joint and several liability
4. Cross-Indemnification: Used when parties are providing reciprocal indemnities
5. Specific Exclusions: Detailed exclusions section needed when certain risks or events are specifically carved out
6. Third Party Rights: Include when third parties may have rights under the indemnity
7. Currency Provisions: Required for international arrangements involving multiple currencies
8. Assignment and Delegation: Include when transfer of rights or obligations needs to be specifically addressed
1. Schedule of Specific Indemnified Events: Detailed list of specific events or circumstances covered by the indemnity
2. Schedule of Pre-Existing Claims: List of known claims or circumstances that might give rise to claims
3. Schedule of Related Agreements: List of other agreements referenced or related to the indemnity
4. Schedule of Contact Information: Detailed contact information for notices and claims
5. Appendix A - Claim Notification Form: Standard form for notifying claims under the agreement
6. Appendix B - Security Documents: Forms and details of any security provided to support the indemnity
7. Appendix C - Insurance Requirements: Detailed specifications of required insurance coverage
Authors
Affiliate
Applicable Law
Business Day
Claim
Commencement Date
Confidential Information
Default
Effective Date
Force Majeure Event
Governmental Authority
Indemnified Party
Indemnifying Party
Indemnified Losses
Liability
Loss
Material Adverse Effect
Notice
Parties
Payment Date
Related Party
Representatives
Security
Settlement
Termination Date
Third Party
Third Party Claim
Transaction Documents
Working Hours
Nigerian Naira
Dispute
Defense Costs
Excluded Claims
Indemnification Obligation
Indemnification Period
Interest Rate
Legal Proceedings
Principal
Security Interest
Stamp Duty
Surviving Provisions
Scope of Indemnity
Grant of Indemnity
Exclusions from Indemnity
Duration and Survival
Payment Obligations
Claims Procedure
Notice Requirements
Defense and Settlement
Subrogation Rights
Security Provisions
Representations and Warranties
Conditions Precedent
Covenants
Events of Default
Remedies
Force Majeure
Assignment and Transfer
Confidentiality
Costs and Expenses
Stamp Duty
Notices
Amendment and Waiver
Severability
Entire Agreement
Counterparts
Further Assurance
Third Party Rights
Governing Law
Jurisdiction
Dispute Resolution
Language
Time of Essence
Banking and Financial Services
Construction and Infrastructure
Oil and Gas
Manufacturing
Real Estate
Insurance
Transportation and Logistics
Mining and Natural Resources
Telecommunications
Healthcare
Professional Services
International Trade
Legal
Finance
Risk Management
Compliance
Operations
Commercial
Corporate Secretariat
Treasury
Insurance
Project Management
Business Development
Legal Counsel
Risk Manager
Compliance Officer
Chief Financial Officer
Contract Manager
Corporate Secretary
General Counsel
Finance Director
Project Manager
Operations Director
Commercial Director
Chief Executive Officer
Insurance Manager
Treasury Manager
Business Development Manager
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