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Contract Of Indemnity And Guarantee
"I need a Contract of Indemnity and Guarantee for my Singapore-based construction company to provide a performance guarantee to our client for a major building project, with the guarantee period running until December 2025 and covering potential defects liability."
1. Parties: Identification of the indemnifier/guarantor and the beneficiary
2. Background: Context of the indemnity/guarantee and the underlying transaction
3. Definitions: Key terms used throughout the agreement
4. Scope of Indemnity/Guarantee: Detailed description of what is being guaranteed or indemnified
5. Duration: Term of the indemnity/guarantee
6. Obligations of Parties: Rights and duties of each party
7. Governing Law: Specification of Singapore law as governing law
1. Security Provisions: Additional security measures, used when additional collateral is provided
2. Step-In Rights: Rights of the beneficiary to take over obligations in project-related guarantees
3. Counter-Indemnity: Provisions for counter-indemnification when multiple parties are involved in the arrangement
1. Schedule of Guaranteed Obligations: Detailed list of obligations covered by the guarantee/indemnity
2. Form of Demand: Template for making claims under the guarantee/indemnity
3. Security Documents: Details of any security provided
4. Corporate Authorizations: Required corporate approvals and resolutions
Authors
Beneficiary
Business Day
Claim
Commencement Date
Confidential Information
Default
Effective Date
Event of Default
Guaranteed Obligations
Guarantor
Indemnified Party
Indemnifier
Indemnified Losses
Liability
Loss
Notice
Parties
Principal Debtor
Principal Agreement
Security
Singapore Dollars
SGD
Term
Termination Date
Transaction Documents
Underlying Agreement
Working Day
Nature of Liability
Payment Obligations
Demand and Claims Process
Representations and Warranties
Continuing Security
Enforcement Rights
Default Events
Remedies
Discharge of Guarantee
Assignment and Transfer
Waiver of Defenses
Subrogation Rights
Confidentiality
Force Majeure
Notices
Amendments
Severability
Counter-Indemnity
Set-Off Rights
Costs and Expenses
Interest on Overdue Amounts
Governing Law
Dispute Resolution
Entire Agreement
Third Party Rights
Further Assurance
Counterparts
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