fbpx

stars Over 2,600 Happy South African Businesses

Contingent Liability Agreement

Contingent Liability Agreement

stars Over 10,000 Happy South African Businesses

Original price was: R 720,29.Current price is: R 504,20.

Legal contract assigning responsibility for potential future liability to a party.

  • Limits liability exposure.
  • Protects assets and investments.
  • Reduces financial risks.
Buy 1 Year Subscription:
Access All 250+ Templates @ R500pm*
How do I receive my documents once I have paid for them?

Once your order is complete, you will be granted download permission for the document. You will:

  • See download links on the order received page after you have checked out.
  • Receive an email notification which will include download links.
  • Have access to your downloads via the Downloads tab on your ‘My Account’ page when logged in to your account on this website.
What format do you provide the document in?

You’ll receive the document in Microsoft Word. A small number of our documents are only available in PDF, in which case this is stated in the document summary.

What if I don't receive the link?

The two most common reasons for people not receiving the link are : (i) The e-mail address entered into the order form was incorrect; or (ii) the e-mail was directed into your spam folder. First please check your spam folder. If it is not there, contact us.

How can I tell if the document is suitable for my requirements?

Each document is accompanied by a description. Read the description to see if it will meet your requirements. If you are still uncertain, you can Contact Us with a brief overview of what you need the document for and we will respond as soon as possible.

Can I make changes to the contracts and legal documents?

Our documents are provided in MS Word format, allowing you to adjust and alter the agreement as you require. If you do not have legal experience we do caution you to be circumspect about the extent of the changes that you make.

Our Clients & Partners

CONTINGENT LIABILITY AGREEMENT

Summary A Contingent Liability Agreement can be used by a company that takes out Contingent Liability insurance over the life of its equity owners or directors. Such insurance covers the company’s contingent liabilities should the owner or director die before the company has paid off any debt for which the owner or director has signed a suretyship. A Contingent Liability Agreement is an acknowledgement by the life assured that the insurance policy is in place, and a confirmation about each party’s rights and obligations around the life policy.

Why do I need a Contingent Liability Agreement? Often a company owner or director signs over a security for the company (such as a suretyship, guarantee or undertaking), most commonly when the company takes out a loan or applies for a credit facility. If the owner or director dies before the loan or facility is paid off, the company may be forced to settle the amount prematurely, which could cause the company serious financial problems. This can prompt the company to take out Contingent Liability insurance cover over the surety’s life. A Contingent Liability Agreement can be a useful document for the company to sign with the life assured. It sets out the life assured’s rights and responsibilities with regards to the insurance policies, including what might happen to the policies if a life assured leaves the company for whatever reason.

What does the agreement say? The Agreement consists of: Definitions; Introduction; Policies; Cession of Policies; Disputes; General.

What does this agreement look like? The document can be printed onto six pages.

What do you need to do to use the Contingent Liability Agreement?

  • Read the sample contingent liability document to ensure that it suits your requirements. Make any changes as required.
  • Complete Annexure A by adding in the details of the life policies taken out.
  • Ensure both policyholder and the life assureds sign the Agreement with each getting a copy of the final, signed agreement.

Also viewed: Key Man Insurance Agreement

The Online Agreements Shop cc and its members, staff, legal advisers, partners and consultants, agents and any person associated therewith cannot be held liable for any loss or damage that is incurred or may be incurred by any person as a direct or indirect result of the use of this website or any document or information contained on or obtained from this website, nor as a result of anything that is contained in or left out of any document.

How do I receive my documents once I have paid for them?

Once your order is complete, you will be granted download permission for the document. You will:

  • See download links on the order received page after you have checked out.
  • Receive an email notification which will include download links.
  • Have access to your downloads via the Downloads tab on your ‘My Account’ page when logged in to your account on this website.
What format do you provide the document in?

You’ll receive the document in Microsoft Word. A small number of our documents are only available in PDF, in which case this is stated in the document summary.

What if I don't receive the link?

The two most common reasons for people not receiving the link are : (i) The e-mail address entered into the order form was incorrect; or (ii) the e-mail was directed into your spam folder. First please check your spam folder. If it is not there, contact us.

How can I tell if the document is suitable for my requirements?

Each document is accompanied by a description. Read the description to see if it will meet your requirements. If you are still uncertain, you can Contact Us with a brief overview of what you need the document for and we will respond as soon as possible.

Can I make changes to the contracts and legal documents?

Our documents are provided in MS Word format, allowing you to adjust and alter the agreement as you require. If you do not have legal experience we do caution you to be circumspect about the extent of the changes that you make.

Trusted By 10,000+ Businesses

Legal Templates For All Industries

Legal Templates For All Industries

Backed By Legal Research

Contingent Liability Agreement 1
This item: Contingent Liability Agreement
Original price was: R 720,29.Current price is: R 504,20.
Original price was: R 720,29.Current price is: R 504,20.
Recruitment Hiring (13)
Original price was: R 2 855,72.Current price is: R 1 999,00.
Pre Agreement Proposal – Instalment Sale Agreement 1
Original price was: R 720,29.Current price is: R 504,20.
Buy Sell Agreement 2 parties being legal entities death disability 1
Original price was: R 720,29.Current price is: R 504,20.
Escrow Agreement Template 1
Original price was: R 1 480,05.Current price is: R 1 036,04.
Buy Sell Agreement 2 parties death only 1
Original price was: R 720,29.Current price is: R 504,20.

CONTINGENT LIABILITY AGREEMENT

Summary A Contingent Liability Agreement can be used by a company that takes out Contingent Liability insurance over the life of its equity owners or directors. Such insurance covers the company’s contingent liabilities should the owner or director die before the company has paid off any debt for which the owner or director has signed a suretyship. A Contingent Liability Agreement is an acknowledgement by the life assured that the insurance policy is in place, and a confirmation about each party’s rights and obligations around the life policy.

Why do I need a Contingent Liability Agreement? Often a company owner or director signs over a security for the company (such as a suretyship, guarantee or undertaking), most commonly when the company takes out a loan or applies for a credit facility. If the owner or director dies before the loan or facility is paid off, the company may be forced to settle the amount prematurely, which could cause the company serious financial problems. This can prompt the company to take out Contingent Liability insurance cover over the surety’s life. A Contingent Liability Agreement can be a useful document for the company to sign with the life assured. It sets out the life assured’s rights and responsibilities with regards to the insurance policies, including what might happen to the policies if a life assured leaves the company for whatever reason.

What does the agreement say? The Agreement consists of: Definitions; Introduction; Policies; Cession of Policies; Disputes; General.

What does this agreement look like? The document can be printed onto six pages.

What do you need to do to use the Contingent Liability Agreement?

  • Read the sample contingent liability document to ensure that it suits your requirements. Make any changes as required.
  • Complete Annexure A by adding in the details of the life policies taken out.
  • Ensure both policyholder and the life assureds sign the Agreement with each getting a copy of the final, signed agreement.

Also viewed: Key Man Insurance Agreement

The Online Agreements Shop cc and its members, staff, legal advisers, partners and consultants, agents and any person associated therewith cannot be held liable for any loss or damage that is incurred or may be incurred by any person as a direct or indirect result of the use of this website or any document or information contained on or obtained from this website, nor as a result of anything that is contained in or left out of any document.