What is an example of indemnification and hold harmless clause?
The Contractor shall defend, indemnify and hold the County, its officers, officials, employees and volunteers harmless from any and all claims, injuries, damages, losses or suits including attorney fees, arising out of or in connection with the performance of this Agreement, except for injuries and damages caused by Sample Indemnity/Hold Harmless Provision Contractors - Pierce County piercecountywa.gov View Sample-Inde piercecountywa.gov View Sample-Inde
Who fills an indemnity form?
A third party generally writes a LOI, promising to compensate one party to a contract for any losses related to the other party. Frequently, large institutions like insurance companies and banks take on this role.
What is the wording for a hold harmless agreement?
shall fully defend, indemnify, and hold harmless from any and all claims, lawsuits, demands, causes of action, liability, loss, damage and/or injury, of any kind whatsoever ( including without limitation all claims for monetary loss, property damage, equitable relief, personal injury and/or wrongful death), whether Free Hold Harmless Agreement: Make, Sign Download - Rocket Lawyer rocketlawyer.com document hold-harml rocketlawyer.com document hold-harml
What is an example of an indemnity clause in Canada?
To the fullest extent permitted by law, the Company shall indemnify and hold harmless each Covered Person from and against any and all civil, criminal, administrative or investigative losses, claims, demands, liabilities, expenses, judgments, fines, settlements and other amounts arising from any and all claims, demands CANADA INDEMNIFICATION Sample Clauses - Law Insider lawinsider.com clause canada-indemnific lawinsider.com clause canada-indemnific
What is an example of an indemnity agreement?
In an indemnity agreement, one party will agree to offer financial compensation for any potential losses or damages caused by another party, and to take on legal liability for whatever damages were incurred. The most common example of indemnity in the financial sense is an insurance contract.
How do you draft a good indemnity clause?
An indemnification clause should clearly define the following elements: who are the indemnifying party and the indemnified party, what are the covered claims or losses, what are the obligations and duties of each party, and what are the exclusions or limitations of the indemnity.
What are the contents of indemnity agreement?
Any indemnity agreement has what is called a period of indemnity, or a specific length of time for which the payment is valid. Similarly, many contracts include a letter of indemnity, which guarantees that both parties will meet the contract stipulations (or else an indemnity must be paid).
How do you fill out an indemnity agreement?
How to Write an Indemnity Agreement Consider the Indemnity Laws in Your Area. Draft the Indemnification Clause. Outline the Indemnification Period and Scope of Coverage. State the Indemnification Exceptions. Specify How the Indemnitee Notifies the Indemnitor About Claims. Write the Settlement and Consent Clause. How to Write an Indemnity Agreement (Step-by-Step Guide) - OnBoard onboardmeetings.com blog indemnity-a onboardmeetings.com blog indemnity-a
