Hold harmless 2025

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The document is a Hold Harmless Letter between the Buyer and Seller regarding a property, stating that the Buyer accepts the property in 'AS IS' condition and agrees to indemnify Bristol Borough from any liabilities related to occupancy. The Buyer commits to completing necessary certifications and inspections before occupying the premises and assumes full responsibility for any required repairs. The agreement expires 60 days after execution.

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2008	4.8 Satisfied (64 Votes)

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What is the legal term for hold harmless?

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.

Whats another word for hold harmless?

The prevailing interpretation is that hold harmless and indemnify are synonymous. However, under the minority view, hold harmless requires payment of both actual losses and potential liabilities, while indemnify protects against incurred losses only.

What is the difference between indemnify and hold harmless?

A hold harmless clause is commonly added to contracts. The idea is to protect the company and transfer some of the companys liability to you in return for the business they are sending to you. The clause requires that you protect the company with whom you are contracting if they are sued.

What is a hold harmless in medical terms?

The member will not be held financially responsible for the cost of covered services except for any applicable copayment, coinsurance, or deductible if all of the following are true: The member has followed the guidelines of the Plan.

What is another word for hold harmless?

Hold harmless clauses go by many names. They may also be called hold harmless agreements, hold harmless provisions, or indemnity agreements.

What does hold harmless mean?

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.

Is there a difference between indemnify and hold harmless?

Definition and Purpose: A hold harmless clause releases one party from liability, while indemnification ensures compensation for damages or losses. Key Differences: While similar, hold harmless may prevent lawsuits altogether, whereas indemnification ensures financial protection after damages occur.

Hold harmless 2025

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