Create a bespoke document in minutes, or upload and review your own.
Get your first 2 documents free
Your data doesn't train Genie's AI
You keep IP ownership of your information
Gap Indemnity Agreement
"I need a Gap Indemnity Agreement under Singapore law to cover potential losses during a three-month gap period between property insurance policies, with a maximum liability of SGD 2 million, starting from March 1, 2025."
1. Parties: Identification and details of the indemnifier and indemnitee
2. Background: Context of the gap risk being covered and related transaction details
3. Definitions: Key terms used throughout the agreement including relevant legislation references (Contracts Act, Civil Law Act, etc.)
4. Scope of Indemnity: Detailed description of what risks/gaps are covered and the extent of indemnification
5. Duration: Period of coverage and termination provisions, considering Limitation Act requirements
6. Claims Procedure: Process for making and handling indemnity claims
7. Payment Terms: Details of any premium or consideration for the indemnity
8. Governing Law and Jurisdiction: Specification of Singapore law as governing law and Singapore courts' jurisdiction
1. Insurance Requirements: Additional insurance obligations when parallel insurance coverage is required
2. Security Provisions: Additional security for the indemnity obligations when collateral is required
3. Assignment: Rights to assign the benefit of the indemnity when transfer rights are relevant
4. Regulatory Compliance: Specific provisions relating to MAS requirements when financial institutions are involved
1. Schedule 1 - Covered Risks: Detailed list of specific gaps or risks covered under the indemnity
2. Schedule 2 - Claims Form: Standard form and procedure for submitting indemnity claims
3. Schedule 3 - Supporting Documents: List of required documentation for claims verification
4. Schedule 4 - Premium Schedule: Details of premium payments and payment schedule if applicable
Authors
Claim
Commencement Date
Covered Risks
Effective Date
Gap Period
Indemnified Party
Indemnifying Party
Indemnity Amount
Indemnity Period
Losses
Maximum Liability
Permitted Purpose
Premium
Property
Related Documents
Relevant Transaction
Security
Singapore Dollars
Termination Date
Third Party
Transaction Documents
Underlying Agreement
Working Day
Duration and Termination
Scope of Indemnity
Exclusions
Claims Procedure
Payment Terms
Representations and Warranties
Confidentiality
Force Majeure
Assignment
Subrogation Rights
Security
Notices
Further Assurance
Costs and Expenses
Severability
Entire Agreement
Amendments
Waiver
Third Party Rights
Counterparts
Dispute Resolution
Governing Law
Jurisdiction
Find the exact document you need
Download our whitepaper on the future of AI in Legal
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
Our bank-grade security infrastructure undergoes regular external audits
We are ISO27001 certified, so your data is secure
Organizational security
You retain IP ownership of your documents
You have full control over your data and who gets to see it
Innovation in privacy:
Genie partnered with the Computational Privacy Department at Imperial College London
Together, we ran a £1 million research project on privacy and anonymity in legal contracts
Want to know more?
Visit our Trust Centre for more details and real-time security updates.
Read our Privacy Policy.