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Hold harmless indemnification agreement

Hold harmless indemnification agreement 2025

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The document is a Hold Harmless and Indemnification Agreement between Premier Bank and another party, outlining the terms under which Premier Bank requests the return of funds from an erroneous transaction. It specifies the details of the transaction, requests the debit of the deposited account, and includes an indemnification clause where Premier Bank agrees to protect the other party from any claims or losses related to this action.

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What does hold harmless mean in an indemnity?

Hold harmless is the promise to pay any costs that may result from a claim covered by the indemnity provision, including any subsequent fallout stemming from the covered claim and/or its settlement.

What is a hold harmless indemnity agreement?

An arrangement whereby one party agrees to absolve a second party from any blame even when damage or injury is caused by negligence of the second party.

Do hold harmless agreements hold up in court?

These hold harmless agreements are contracts, enforceable as any other contract would be, and courts can and do enforce them.

What are the three types of hold harmless?

Types of Hold Harmless Agreements In order from most to least protective, the three types of indemnity agreements are broad form, intermediate form, and limited form. In the explanations below, we will refer to parties as either indemnitors or indemnitees.

What is an example of an indemnify and hold harmless clause?

Tenant agrees to indemnify and hold Landlord harmless from any liabilities, losses, damages, costs, expenses (including attorneys fees), causes of action, suits, claims, demands, or judgments arising from any injury or damage on the Demised Premises or adjoining sidewalks, streets, or ways, resulting from Tenants use

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What is the difference between harmless and indemnity agreements?

A hold harmless clause is similar to an indemnity, but it prevents the supplier from holding the recipient responsible for any loss or damage suffered by the supplier. This deprives the supplier of any legal rights it may have to recover damages or a contribution towards damages from the recipient.

What is the purpose of a hold harmless agreement?

A hold harmless agreement, or HHA, is an agreement used to help prevent you or your organization from being held responsible for certain types of bodily injury or property damage. This type of agreement might also be referred to as a liability waiver, disclaimer, hold harmless letter, or release of liability.