Sell Indemnity Agreement Real Estate

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What is the purpose of an indemnity agreement?

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\u2014that is, promises to make whole the individual or business for any covered loss.

How do you write an indemnity clause?

\u201c[Company/Business/Individual Name] shall fully indemnify, hold harmless and defend _______ and its directors, officers, employees, agents, stockholders and Affiliates from and against all claims, demands, actions, suits, damages, liabilities, losses, settlements, judgments, costs and expenses (including but not ...

What is indemnity example?

Indemnity is commonly included as a clause in contracts in which the actions or mistakes of one party may result in the other party being liable for damages. For example: ... In doing this, the hospital indemnifies the wheelchair company, or the hospital guarantees indemnity for any losses or injuries that may occur.

When signing a contract What does indemnification describe?

In every contract you sign, you will usually find a reference to \u201cindemnities\u201d. In basic terms, they are promises from one party to compensate the other party for certain losses or damage. ... Alternatively, you may have additional rights to recover compensation if you receive an indemnity from the other party.

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