Fix sentence in the Hold Harmless (Indemnity) Agreement

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How to Fix sentence in the Hold Harmless (Indemnity) Agreement

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[Music] hi Im Ken Fossum how would you respond to this superintendents question I received two certified letters today one was from the company that installed our new bleachers a couple of years ago and the other is from the manufacturer of those bleachers both letters say the district is responsible for providing defense for them in the lawsuit that was filed Monday by the parents of one of the students injured when the bleachers collapsed last fall the school was named in Mondays lawsuit too but our insurance company is taking care of that Im assuming the insurance companies for the Installer and manufacturer have the obligation to do the same for them am i right this question provides a limited amount of information and I suspect that there is more to the story more specifically Im guessing as the school district may have entered into a purchase agreement when they bought the bleachers and that the purchase agreement had a clause in it that reads something like this paragraph

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What are the three 3 methods of indemnity?

An agreement under which one party shifts to another the responsibility for a loss. Three types which exist are (1) hold harmless agreements, (2) exculpatory agreements, and (3) indemnity agreements.

Is hold harmless the same as release?

A release and a hold harmless agreement are usually considered the same thing, as is a waiver of liability. All three have similar language and the same intent of protecting you from liability to another party. Some contracts also contain hold harmless clauses, written to protect one or both parties.

What are the different types of indemnity?

There are three levels of indemnification – broad, intermediate and limited form: Broad Form Indemnity. ... Intermediate Form Indemnity. ... Limited Form Indemnity. ... Validity of Indemnity Provisions. ... State-by-State Case. ... Operations in Multiple States. ... Insurance Considerations.

Does hold harmless mean release?

A hold harmless clause is used as a release of liability in a contract that protects one party from injury or property damage caused by another party. By signing the clause, the other party is agreeing not to hold business owners legally responsible for the risks involved in certain services.

What is hold harmless clause in contract of indemnity?

A hold harmless is an agreement by a party to assume responsibility for, and to not hold the other party liable for, damages resulting from the occurrence of certain acts, circumstances or events.

What does hold harmless mean legal?

Hold harmless is defined as a promise in a contract, by one party not to hold the other party responsible if the other party carries out the contract in a way that causes damage to the first party.

What does it mean to release and hold harmless?

Hold harmless is defined as a promise in a contract, by one party not to hold the other party responsible if the other party carries out the contract in a way that causes damage to the first party.

Does hold harmless mean defend?

A hold harmless clause provides that an organization or individual will not be held liable for any injuries or damages caused to the other party. Indemnification assures that one party will insulate another party from loss or damages.

Is a hold harmless agreement the same as waiver?

A release and a hold harmless agreement are usually considered the same thing, as is a waiver of liability. All three have similar language and the same intent of protecting you from liability to another party. Some contracts also contain hold harmless clauses, written to protect one or both parties.

What is indemnity and hold harmless clause?

Hold harmless and indemnification is a clause that should identify which party will defend and indemnify the other party in a claim situation; it may be a mutual agreement.

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