When do I use this document? for the inaugural board meeting of a company following its formation to replace temporary arrangements put in place at the time of incorporation formation for a company incorporated in England and Wales What are the key features? resolutions for a complete range of matters for the first board meeting directors: remove temporary directors and appointment permanent directors name: change the name from a temporary to a permanent name articles of association: adopt new Articles of Association in place of default Companies Act Model Articles registered office: update from temporary to permanent registered office address bank: approve bankers and bank mandate(s) year end: change the company’s financial year end (its accounting reference date) from the default date under the Companies Act to the date to which statutory accounts will be prepared shares: approve transfers, allotments and issues of shares to new and existing shareholders What else do I need to know? A company may need to hold a board meeting following the company’s formation to approve certain administrative and other matters. This is particularly the case where, for timing or other reasons, a company has been formed quickly with certain matters dealt with on a temporary basis, perhaps to be decided or arranged later. A board meeting can update these temporary arrangements and approve and put in place the intended longer-term arrangements.

Indemnity: contract clause

Name: Contract Indemnity Clause - PaperRock Documents
SKU: CON011.001
Price: 15.00 GBP
Availability: InStock

Indemnity clause for a contract, where one party will indemnify the other party for loss or damage. Alternative forms of clause depending on the context, including a mutual indemnity, a breach of contract indemnity and a third-party claim indemnity.

for an indemnity clause to be included in a contract
for a contract governed by English law

What are the key features?

alternative forms of indemnity wording:
- indemnity from one party in favour of the other party
- mutual indemnity from both parties in favour of the other
indemnity for breach of the underlying contract
indemnity for potential loss arising from a third party claim
wording for conduct of third party claims

What else do I need to know?

An indemnity is a contractual undertaking given by one party (the indemnifier) in favour of another party (the indemnified party or beneficiary) under which the indemnifier agrees to pay to the indemnified party the amount of any loss or damage which the indemnified party suffers as a consequence of a specified event.

The specified event might be:

the breach of contract by the indemnifier
liability of the indemnified party to a third party in relation to a specified event or circumstance
a claim by a third party for loss or damage caused by the indemnifier’s breach of contract

Unlike other contractual obligations (and depending on the wording of the indemnity), an indemnity is not subject to legal rules and limitations regarding to the foreseeability of loss or the remoteness of damages which can be recovered by the beneficiary. In addition, the beneficiary is not legally obliged to mitigate its loss.

As a result and in exchange for agreeing to give the indemnity, the indemnifier may require that the beneficiary takes certain actions in relation to a claim or event which might give rise to a claim under the indemnity being made. These actions include:

the notification of a claim from a third party in relation to the indemnified obligation
an obligation on the indemnified party to take action required by the indemnifier to defend a third party claim
allowing the indemnifier to take legal action in the name of the indemnifier to defend the third party claim

Description

When do I use this document?

for the inaugural board meeting of a company following its formation
to replace temporary arrangements put in place at the time of incorporation formation
for a company incorporated in England and Wales

What are the key features?

resolutions for a complete range of matters for the first board meeting
directors: remove temporary directors and appointment permanent directors
name: change the name from a temporary to a permanent name
articles of association: adopt new Articles of Association in place of default Companies Act Model Articles
registered office: update from temporary to permanent registered office address
bank: approve bankers and bank mandate(s)
year end: change the company’s financial year end (its accounting reference date) from the default date under the Companies Act to the date to which statutory accounts will be prepared
shares: approve transfers, allotments and issues of shares to new and existing shareholders

What else do I need to know?

A company may need to hold a board meeting following the company’s formation to approve certain administrative and other matters.

This is particularly the case where, for timing or other reasons, a company has been formed quickly with certain matters dealt with on a temporary basis, perhaps to be decided or arranged later. A board meeting can update these temporary arrangements and approve and put in place the intended longer-term arrangements.

Explanatory Guides

As with all of our document templates, your purchase will include access to clear explanatory guidance on the document and its use.

£15.00 exc VAT

Updated by a lawyer on 21/07/2025

Updated By a lawyer on 01/05/2023

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Indemnity: contract clause

When do I use this document?

What are the key features?

What else do I need to know?

When do I use this document?

What are the key features?

What else do I need to know?

Explanatory Guides

As with all of our document templates, your purchase will include access to clear explanatory guidance on the document and its use.

Create your document in 3 Easy Steps

PaperRock offers affordable, legal document templates, written by experienced and expert lawyers, trusted by businesses across the UK and beyond. No hidden charges or trial sign-ups are required to complete your document.

“I have worked in legal and business affairs for over 25 years and need access to a wide range of corporate and commercial legal precedents. Paperrock is a refreshing source of high-quality legal templates. Superb value for money.”

Amanda | Bannister Creative

“It’s hard to find legal documents on the internet you can really trust. Knowing an expert lawyer has drafted what I need, gives my business the edge and gives me peace of mind.”

Elle, Founder | Winslow skincare & aesthetics.

“As an SME Paperrock saves us the legal fees we’ve previously had to spend. In these challenging times that's a big help. Great products and support.”

Giles, MD | Boniti Ltd.

Indemnity: contract clause

When do I use this document?

What are the key features?

What else do I need to know?

When do I use this document?

What are the key features?

What else do I need to know?

Explanatory Guides

As with all of our document templates, your purchase will include access to clear explanatory guidance on the document and its use.

Related Articles

Create your document in 3 Easy Steps

PaperRock offers affordable, legal document templates, written by experienced and expert lawyers, trusted by businesses across the UK and beyond. No hidden charges or trial sign-ups are required to complete your document.

“I have worked in legal and business affairs for over 25 years and need access to a wide range of corporate and commercial legal precedents. Paperrock is a refreshing source of high-quality legal templates. Superb value for money.”

Amanda | Bannister Creative

“It’s hard to find legal documents on the internet you can really trust. Knowing an expert lawyer has drafted what I need, gives my business the edge and gives me peace of mind.”

Elle, Founder | Winslow skincare & aesthetics.

“As an SME Paperrock saves us the legal fees we’ve previously had to spend. In these challenging times that's a big help. Great products and support.”

Giles, MD | Boniti Ltd.

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