Indemnification Hold Harmless Agreement - Page 2

What is an indemnification hold harmless agreement?

An indemnification hold harmless agreement is a legally binding contract between two parties that outlines the responsibilities and liabilities in the event of a potential dispute or claim. It is a risk management tool that helps protect one party (the indemnitee) from any harm or losses caused by the actions or negligence of the other party (the indemnitor). By signing this agreement, both parties agree to indemnify and hold harmless each other, ensuring that any damages or expenses incurred will be covered by the responsible party.

What are the types of indemnification hold harmless agreements?

There are several types of indemnification hold harmless agreements that can be used depending on the specific situation. Some common types include: 1. Broad Form Indemnity: This type of agreement provides the indemnitee with the maximum protection by requiring the indemnitor to assume all liabilities, even if they are caused by the indemnitee's own negligence. 2. Intermediate Form Indemnity: This agreement places responsibility on the indemnitor for their own negligence or actions, as well as for any partial negligence or actions of the indemnitee. 3. Limited Form Indemnity: This type of agreement limits the indemnitor's responsibility to only the losses or damages caused solely by their own negligence or actions.

Broad Form Indemnity
Intermediate Form Indemnity
Limited Form Indemnity

How to complete an indemnification hold harmless agreement

Completing an indemnification hold harmless agreement is straightforward and simple. Follow these steps to create a comprehensive agreement:

01
Identify the parties involved: Clearly state the legal names and contact information of both the indemnitee and the indemnitor.
02
Outline the purpose: Explain the specific activities or services for which indemnification is being sought.
03
Specify the scope: Clearly define the extent of indemnification and the limitations, if any, on the indemnitor's liability.
04
Define terms and conditions: Include clauses regarding the governing laws, jurisdiction, and any additional terms that both parties agree upon.
05
Include signatures: Make sure both parties sign and date the agreement to make it legally binding.

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Video Tutorial How to Fill Out indemnification hold harmless agreement

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Questions & answers

A “hold harmless agreement,” sometimes called an indemnification agreement or indemnity clause, is a contractual statement in which one or both parties agree not to hold the other party responsible for damages that occur while doing business.
Enforceability of Hold Harmless Agreements The general answer is yes, that these documents signing away your right to sue for negligence are legally enforceable.
“[Company/Business/Individual Name] shall fully indemnify, hold harmless and defend _______ and its directors, officers, employees, agents, stockholders and Affiliates from and against all claims, demands, actions, suits, damages, liabilities, losses, settlements, judgments, costs and expenses (including but not
For example: If a construction company or independent contractor is doing work at your business property, the company may have you sign a hold harmless clause to avoid being legally liable for any injuries resulting from the construction work.
How to Fill Out a Hold Harmless Agreement The date of the agreement. The name of the person held harmless or protected, with their address. The name of the other party to the agreement, with their address. Details about the activity or event the agreement is about, such as horseback riding or country club membership.
The prevailing interpretation is that “hold harmless” and “indemnify” are synonymous. However, under the minority view, “hold harmless” requires payment of both actual losses and potential liabilities, while “indemnify” protects against incurred losses only.