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General Form of an Indemnity AgreementIndemnity agreement made on the ___ day of ___, 20___, between ___ (name of person promising to indemnify) of ___ ___ ___ (street address, city, county, state,
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FAQ

Indemnity is considered to be a contractual agreement between two parties whereby one party agrees to pay for potential losses or damages caused by another party. ... With indemnity, the insurer indemnifies the policyholder—that is, promises to make whole the individual or business for any covered loss.

An indemnity agreement (sometimes called a "hold harmless agreement" can be a contract or a section of a contract. In these cases, an indemnity agreement is contract language that indemnifies (holds harmless) one of the parties in a contract for specific actions that might cause damage to the other party.

Indemnity is considered to be a contractual agreement between two parties whereby one party agrees to pay for potential losses or damages caused by another party. ... With indemnity, the insurer indemnifies the policyholder—that is, promises to make whole the individual or business for any covered loss.

However, if you are seeking such an indemnity, be aware that it may not necessarily be enforceable. ... By extension, this would prevent a party from enforcing an indemnity for the penalties it has to pay as a result of that act. Thus, an indemnity against criminal liability is generally unenforceable.

To indemnify someone is to absolve that person from responsibility for damage or loss arising from a transaction. Indemnification is the act of not being held liable for or being protected from harm, loss, or damages, by shifting the liability to another party.

An indemnity agreement is a contract that 'holds a business or company harmless' for any burden, loss, or damage. An indemnity agreement also ensures proper compensation is available for such loss or damage.

Indemnity clauses are used to manage the risks associated with a contract, because they enable one party to be protected against the liability arising from the actions of another party.

First, include the date the document is being executed (signed). ... Begin the letter confirming the contract already in place with the other party. ... Include the language "For good and valuable consideration..." ... Explain what might happen to cause you not to complete the contract.

With a real estate indemnity agreement, one party is pledging to protect another from any kind of financial loss or from a lawsuit of some kind. We often hear about an indemnity agreement when we are filling out our car insurance forms, but this type of agreement is commonplace in most other forms of law.

Definition of "Indemnify" Majeed Sharif, Real Estate Agent AdoEma Realty. A legal principle in computing the amount of the economic loss reimbursed for destroyed or damaged property. An agreement to compensate for a loss or damage incurred by an individual or business.