Release Of Indemnity Template for New Zealand

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Key Requirements PROMPT example:

Release Of Indemnity

"I need a Release of Indemnity agreement for my construction company to release subcontractors from future claims following the completion of the Auckland office building project scheduled for March 2025, including specific provisions for workmanship warranties."

Document background
The Release of Indemnity agreement is a crucial legal instrument used in New Zealand business and personal contexts to formally discharge one party from liability or obligations to another. This document is typically employed following the resolution of a dispute, completion of a project, or settlement of claims, where parties wish to prevent future legal actions or claims relating to specific matters. It must comply with New Zealand's legal framework, including the Contract and Commercial Law Act 2017, and should clearly outline the scope of the release, consideration provided, and any exceptions. The document is particularly important in situations involving potential liability, such as accident settlements, business transactions, or project completions, where parties seek to achieve finality in their legal relationships.
Suggested Sections

1. Parties: Identifies and defines all parties involved in the release agreement, including full legal names and addresses

2. Background: Explains the context and circumstances leading to the release of indemnity, including any relevant historical events or relationships

3. Definitions: Defines key terms used throughout the agreement to ensure clarity and prevent misinterpretation

4. Release Terms: Details the specific claims, rights, or obligations being released, including the scope and extent of the release

5. Consideration: Specifies what is being given in exchange for the release (monetary or otherwise)

6. Representations and Warranties: Statements of fact made by the parties about their authority to enter into the agreement and other relevant matters

7. Effective Date: Specifies when the release becomes effective and its duration

8. Governing Law: Confirms that New Zealand law governs the agreement and specifies jurisdiction for disputes

9. Execution: Formal signing section including space for signatures, dates, and witness details

Optional Sections

1. Confidentiality: Required when the parties wish to keep the terms of the release private

2. Dispute Resolution: Include when parties want to specify a particular method for resolving future disputes

3. Partial Release: Used when the release only applies to specific claims or time periods rather than all possible claims

4. Third Party Rights: Include when the release affects the rights of parties not directly signing the agreement

5. Insurance Provisions: Required when insurance policies or claims are involved in the release

6. Severability: Include to ensure that if any provision is found invalid, the rest of the agreement remains enforceable

7. Future Claims: Used when addressing potential future claims that haven't yet arisen

Suggested Schedules

1. Schedule 1 - Released Claims: Detailed list of specific claims, rights, or obligations being released

2. Schedule 2 - Excluded Claims: List of claims specifically excluded from the release

3. Schedule 3 - Related Agreements: List of any related agreements or documents affected by or relevant to the release

4. Appendix A - Supporting Documents: Copies of relevant supporting documentation referenced in the main agreement

5. Appendix B - Payment Details: If monetary consideration is involved, details of payment terms and methods

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

Construction

Manufacturing

Healthcare

Professional Services

Insurance

Real Estate

Transportation

Financial Services

Sports and Recreation

Education

Retail

Technology

Relevant Teams

Legal

Risk Management

Compliance

Corporate Affairs

Operations

Human Resources

Finance

Insurance

Commercial

Executive Management

Relevant Roles

Legal Counsel

Risk Manager

Compliance Officer

Contract Administrator

Project Manager

Insurance Manager

Chief Legal Officer

Claims Manager

Business Development Manager

Operations Manager

Human Resources Director

Chief Financial Officer

Chief Executive Officer

Company Secretary

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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