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A Simple Indemnification Agreement is commonly used in the Philippines when parties need to allocate and transfer specific risks in their business relationships. This document is essential when one party (the indemnitor) agrees to protect another party (the indemnitee) from specified losses, damages, or liabilities that may arise from particular circumstances, actions, or events. The agreement must comply with Philippine Civil Code requirements for valid contracts and includes specific provisions about the scope of indemnification, notification procedures, and payment obligations. It's particularly valuable in business transactions, construction projects, service agreements, and other commercial arrangements where clear risk allocation is necessary. The document should be carefully drafted to ensure enforceability under Philippine law and to clearly define the triggers, scope, and limitations of the indemnification obligations.

1. Parties: Identifies and defines the Indemnitor and Indemnitee with their complete legal names and addresses

2. Background: Explains the context and purpose of the indemnification agreement, including the relationship between the parties

3. Definitions: Defines key terms used throughout the agreement, including 'Indemnified Losses', 'Claims', and other relevant terms

4. Scope of Indemnification: Details the specific risks, losses, and circumstances covered by the indemnification

5. Indemnification Obligations: Specifies the Indemnitor's obligations to defend, indemnify, and hold harmless the Indemnitee

6. Notice Requirements: Sets out the procedure and timeframes for notifying the Indemnitor of claims

7. Defense of Claims: Describes the process for defending against third-party claims and the parties' respective rights and obligations

8. Payment and Reimbursement: Specifies the timing and method of indemnification payments

9. Term and Survival: States the duration of the agreement and which provisions survive termination

10. Governing Law: Specifies that Philippine law governs the agreement

11. Dispute Resolution: Outlines the process for resolving disputes between the parties

12. Execution: Signature blocks and execution formalities