Document background
The Hold Harmless and Indemnity Agreement is a vital risk management tool in Hong Kong's business environment, commonly used across various industries to clearly define and allocate potential liabilities between contracting parties. This document type is particularly relevant in situations involving business partnerships, service contracts, property transactions, or any scenario where parties need to establish clear responsibility for potential risks and losses. Operating under Hong Kong law, which combines common law principles with local statutory requirements, these agreements must be carefully drafted to ensure enforceability while complying with local regulations such as the Control of Exemption Clauses Ordinance. The agreement typically outlines specific indemnified activities, claim procedures, and the scope of protection, making it an essential document for risk mitigation and business relationship management.
