Document background
The Hold Harmless Agreement For Trustee is a critical document used in Philippine trust arrangements to protect trustees from personal liability while performing their fiduciary duties. This document becomes necessary when trustees take on significant responsibilities in managing trust assets, making investment decisions, or handling complex trust arrangements. It is particularly relevant in the Philippine context where trustees operate under the Trust Code (Presidential Decree No. 442) and Civil Code requirements. The agreement typically includes detailed provisions about indemnification scope, excluded actions, claims procedures, and regulatory compliance requirements. It's essential for both individual and corporate trustees, especially in situations involving substantial assets, multiple beneficiaries, or complex trust structures. The document serves as a risk management tool while ensuring compliance with Philippine legal requirements for trust administration.
