Additional Details

The indemnity operates to indemnify directors against certain liabilities incurred whilst acting in their professional capacity, including defence costs and, in some cases, judgement orders. It is important to note that there are some statutory limitations on the ability of a company to indemnify its directors. A company cannot indemnify directors for conduct that did not arise in good faith, for any liability to the company itself, or for certain statutory penalties or compensation orders.

A Deed of Indemnity, Access and Insurance will also provide the directors with the right to access company documents, particularly in the event the director is required to defend themselves in a proceeding.

Once you purchase this Deed of Indemnity, Access and Insurance:

1. You will receive an email from us giving you the option to either:

• provide us with the information we need to prepare the Deed via our online portal; or

• book a call to provide us with the information we need to prepare the Deed;

2. We will then prepare the first draft of the Deed based on your instructions;

3. We will provide the draft Deed to you by email;

4. You are welcome to either talk to us on the telephone or email your comments and questions about the draft Deed;

5. We will then finalise the Deed (if any changes are required and if instructions are received within 30 days of us sending you the first draft); and

6. You have a new asset to use in your Practice.

Frequently Asked Questions

If you are considering engaging You Legal to prepare a Deed of Indemnity Access and Insurance, here’s what you need to know:

A Deed of Indemnity between a company director and its company serves a crucial purpose by safeguarding the director from personal liability for their actions taken in their capacity as a director. It outlines the company’s commitment to indemnify the director for any legal claims, damages, or liabilities arising from their directorial duties. By entering into this deed, the director can confidently carry out their responsibilities, knowing that they have the support and protection of their company.

The Deed of Indemnity should specify the director’s rights to access company documents, even after they leave the organisation. This ensures that the director retains the right to review relevant records and information to address any potential legal issues or inquiries that may arise in the future.

Yes, the Deed of Indemnity can extend protection from liability to the director even after they have left the organisation. It typically includes provisions stating that the director will continue to be indemnified by the company for acts or omissions that occurred during their tenure as a director, subject to the terms and limitations outlined in the agreement.

The Deed of Indemnity can cover a wide range of liabilities, ensuring comprehensive coverage for the director. These liabilities may include, but are not limited to, legal expenses, damages, settlements, judgments, as well as fines or penalties imposed on the director in connection with their directorial responsibilities.  It is essential to review the specific terms of the Deed to understand the extent of the indemnification provided to the director.

Yes, the Deed of Indemnity may include provisions specifying the company’s obligation to maintain appropriate insurance coverage to support the indemnification of the director. This ensures that the company possesses the necessary financial resources to fulfill its indemnity obligations.

 It is highly advisable for the director to seek independent legal advice before signing the Deed of Indemnity. This helps ensure that their rights are adequately protected, that the terms of the agreement align with their expectations, and that any potential risks or limitations are fully understood. This proactive approach helps to mitigate any uncertainties and allows the director to make informed decisions, ensuring that their rights and protections are properly upheld.

The above price is inclusive of the Deed of Access, Indemnity and Insurance. From providing us with the information, to making sure you understand it and making the changes you request, to getting your finalised Agreement. For more details on the exact process and what’s included, see the ‘Once you purchase this Framework’ section above.

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