This Practice Note provides an overview of the concept of knock-for-knock indemnities. Employed in the offshore oil and gas sector as industry standard, knock-for-knock indemnity regimes are a key tool in the management of risk allocation in offshore oil and gas projects and related maritime activities. This Practice Note considers what is the fundamental nature of the regime, what are the key terms of a knock-for-knock clause, their benefits and when and where they are usually used. This Practice Note has been written in partnership with Robert Meade and Nicholas Neuberger of Bracewell (UK) LLP.
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