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Who is the party to be indemnified?

Indemnification, also referred to as indemnity, is an undertaking by one party (the indemnifying party) to compensate the other party (the indemnified party) for certain costs and expenses, typically stemming from third-party claims.

What is the indemnification clause in a release agreement?

As used herein, INDEMNIFY means to agree to assume the Released Parties liability in a situation, thereby relieving them of responsibility, and/or reimbursing the Released Party for Claims asserted against them.

Who is usually the protected party when indemnification is used?

For example, agreements that involve the sale of intellectual property rights often include an indemnification by the seller in order to protect the buyer against the potentially large liability associated with an infringement lawsuit by a third party.

What is a release waiver of liability and 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.

What is the difference between indemnification and release of liability?

A waiver or release of liability is a contract releasing a party from liability for injuries resulting from their ordinary negligence. An indemnification agreement is a contract agreeing to reimburse the party for any monetary loss incurred as a result of a participants engagement in an activity.

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