Annexure a indemnity form 2025

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It is primarily intended to protect the person who is providing goods or services from being held legally liable for the consequences of actions taken or not taken in providing that service to the person who signs the form.
Indemnity Agreement: Although similar to a hold harmless agreement, an indemnity agreement is an arrangement whereby one party agrees to pay the other party for any damages regardless of who is at fault.
An indemnity bond assures the holder of the bond, that they will be duly compensated in case of a possible loss. This bond is an agreement that protects the lender from loss if the borrower defaults on a legally binding loan.
Typically, you can get a Letter of Indemnity (LOI) by contacting your bank or an insurance company.
The word indemnity finds its roots in the Latin word indemnis, which stands for unhurt or free from loss. Hence, indemnities are also referred to as hold harmless agreements. Indemnities are contractual agreements that provide compensation for losses, damages, or liabilities sustained by another party.
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It is primarily intended to protect the person who is providing goods or services from being held legally liable for the consequences of actions taken or not taken in providing that service to the person who signs the form. Indemnity clauses vary widely.

obligees do not play a critical role in indemnity agreements