ABLI is delighted to announce the release of the first full publication under its Contracts Project where we aim to develop a set of standard-form contract terms that allocate risks relatively evenly and that can be valid in a majority of Asian jurisdictions.
The publication, titled Contract Laws of Asia – Indemnities, zeros in on the common law concept of indemnity and the operation of indemnity clauses in commercial contracts.
Indemnity clauses are frequently seen in commercial contracts in the common law world. They have since found their way into contracts in civil law jurisdictions and are becoming increasingly common. However, understanding of a common law indemnity may not be entirely accurate in the civil law world.
The publication thus dissects two broad issues:
- Operation of indemnity clauses in contracts in select common law jurisdictions, such as when such clauses are commonly sought, the advantages and disadvantages of an indemnity, and how a claim under an indemnity clause differs from a claim for damages for breach of contract; and
- Whether the common law concept of indemnity exists in select civil law and hybrid jurisdictions, and if this concept does not exist, where the available analogous remedies are in those jurisdictions.
This fully-cited, 177-page publication covers 12 jurisdictions and governing laws that are high priorities for parties contracting in Asia, namely:
- Common law jurisdictions: Australia, India, Malaysia, Singapore, England and Wales (English law), and New York State (New York law)
- Civil law and hybrid jurisdictions: China, Indonesia, Japan, Philippines, Thailand and Vietnam.
Get your copy of the publication today here!