Document background
Indemnification And Hold Harmless Agreements are essential risk management tools in Singapore's business environment, commonly used when parties need to allocate potential risks and liabilities in commercial relationships. These agreements, governed by Singapore law, provide a clear framework for protecting one party against losses or damages that may arise from specified activities or circumstances. They are particularly relevant in situations involving high-risk activities, complex commercial transactions, or when regulatory compliance requires clear allocation of responsibilities. The agreement typically defines the scope of protection, claim procedures, and any limitations on liability, all within Singapore's legal framework.
