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A hold harmless agreement means giving up rights to collect on claims upon signing it. It is related to an indemnity agreement where one may end up paying for claims caused by another person. These agreements can be problematic for businesses, especially in vendor contracts. Indemnity agreements can make one responsible for injuries caused to third parties by someone they are contractually bound to. Fighting to remove these agreements from contracts is important unless a mutual indemnity or hold harmless agreement can be reached.
