Indemnify and hold harmless clause sample

What is a hold harmless and indemnity clause? Does indemnify and hold harmless the same? The Seller shall protect, defen indemnify and hold the Purchaser and the Issuer and their respective assigns and their attorneys, accountants, employees, officers and directors harmless from and against all losses, costs, liabilities, claims, damages and expenses of every kind and character, as incurre resulting from or relating to or arising out of (i) the inaccuracy, nonfulfillment or breach of any representation, warranty, covenant or agreement made by the Seller in this Agreement.

Contractor will indemnify and hold harmless Owner against all loss, liability, cost expense, damage and economic detriment of any kind whatsoever that arises out of or from performance of the Work but only to the extent caused in whole or in part by the acts or omissions of the Contractor. The supplier agrees to indemnify and hold harmless the customer against all claims arising in respect of any injury, death, sickness or ill-health caused to or suffered by the customer and its personnel as a result of performance or non-performance of this Agreement. Here is the language of a sample indemnification clause : EACH BORROWER SHALL INDEMNIFY AND HOLD HARMLESS THE INDEMNITEES AGAINST ANY CLAIMS THAT MAY BE INCURRED BY OR ASSERTED AGAINST ANY INDEMNITEE , INCLUDING CLAIMS ASSERTED BY ANY OBLIGOR OR OTHER PERSON OR ARISING FROM THE NEGLIGENCE OF AN INDEMNITEE. Experts recommend that both terms be included for maximum protection.

The stipulations of a hold harmless agreement allows a contractor to claim indemnity in case a subcontractor or his workers get into an accident. The idea of indemnity is to hold someone harmless in case a business suffers loss or damage. For example, a contractor delegates a project to a subcontractor. Contracts involve a promise to do something, to provide goods or services.

This Risk Note addresses the indemnification clause while another risk note addresses insurance clauses and sample wordings. Introduction and Definition. Legal regimes and limitations. This abstract will focus on some aspects of how indemnity and hold harmless clauses are treated in the English and Norwegian legal regimes.

It should be noted that this abstract will only treat commercial contracts negotiated by businessmen. The sample hold harmless agreement below details an agreement between the indemnitor, ‘Terry C Winter’ and the indemnitee, ‘Daniel C Tracey. In return for holding Terry C Winter harmless against potential claims, Terry C Winter agrees to construct an addition to Daniel C Tracey’s home. Hold Harmless Agreement PDF Template.

Any time one person is using another person’s property, or one person is performing services for another, the creation of an indemnify and hold harmless agreement helps ensure one party will take responsibility for any problems that may occur. In other words, the person borrowing the item, or doing work on someone’s property, agrees to indemnify the owner of the property from loss or damages. A hold harmless agreement clause in a contract document should have specific language to protect the contractor or the intended parties. We offer you the best guide on hold harmless clause ! We also offer you sample hold harmless clauses in our downloadable PDF. The Promisor promises to indemnify or hold the Promisee harmless against future claims, losses or damages related to a particular activity.

The clauses and terms are generalised and pre-drafted in the template. The blank spaces are of the assignor and the assignee to fill up. This sample template will act as guidelines for you to draft your own agreement.

Download this template now! In theory, this is a distinction which could have a practical impact. Common area rental agreements by members to use the clubhouse, pool, open space area, etc. A hold harmless or liability waiver provision in a contract is an agreement between.

A sample indemnity clause might state: The Board of Directors, officers, employees and agents of the Corporation will be indemnified and held harmless by the Corporation and its shareholders against any claim. However, there is a tendency within certain industries for the inclusion of the hold harmless or indemnity agreement in order to make the use of specialist sub-contractors much easier for the main contractor. A hold harmless clause is a statement in a contract that absolves one or both parties to the agreement from liability for any injuries or damage.