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Extract Data Hold-Harmless (Indemnity) Agreement

Extract Data Hold-Harmless (Indemnity) Agreement

Aug 6th, 2022

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How to Extract Data Hold-Harmless (Indemnity) Agreement

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A hold harmless agreement entails relinquishing the right to collect on claims after signing the document. It is closely related to indemnity agreements, which require one party to pay for claims that are the fault of another party. Both types of agreements can pose significant challenges for businesses. Indemnity agreements can lead to contractual responsibility for injuries caused to third parties by individuals to whom one is bound contractually, creating problematic scenarios. Hold harmless agreements are commonly found in vendor contracts, and businesses often resist them unless a mutual indemnity or hold harmless agreement is negotiated.

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