Why do you need an indemnity clause?

In most contracts, an indemnification clause serves to compensate a party for harm or loss arising in connection with the other party's actions or failure to act. The intent is to shift liability away from one party, and on to the indemnifying party.

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Indemnification Agreement for a Trust

Indemnification Clause In Contract Sample

Name: Indemnification Clause In Contract Sample
Brand: US Legal Forms
Rating: 4.61 (479 reviews)

Category:

Trusts - Indemnification

State:

Multi-State

Control #:

US-0777-WG

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Description Indemnification Agreement Sample

Indemnitors covenant and agree to defend, indemnify and hold harmless, absolutely and unconditionally, the indemnitee from and against any and all damages, losses, claims, demands, actions, causes of actions, costs, expenses, liabilities and obligations of any kind whatsoever, including, but not limited to, attorney's fees in a certain matter.

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Indemnification Contract Other Form Names

Indemnification Document Indemnification Fill Indemnification Buy Indemnification Online Indemnification Statement Indemnification Trust Indemnity Fund

Indemnification Agreement Template FAQ

Based upon my experience litigating construction cases, the following are 7 typical construction contract clauses that are commonly the source of contractual disputes: (1) scope, price, and time provisions; (2) flow down clauses; (3) pay-when-paid/pay-if-paid provisions; (4) termination for convenience clauses; (5) no

In most contracts, an indemnification clause serves to compensate a party for harm or loss arising in connection with the other party's actions or failure to act. The intent is to shift liability away from one party, and on to the indemnifying party.

Indemnification is a concept whereby one party contractually agrees or is otherwise legally obligated to bear the financial risks of another party. These parties are respectively known as the indemnitor and indemnitee. The construction industry relies on indemnification clauses to manage and transfer risk.

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

Indemnity Clause:Every independent contractor agreement should feature an indemnity clause. The purpose of this clause is to ensure that the independent contractor will be held liable for any damage or injury resulting from the independent contractor's work performed under the contract.

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An otherwise valid Hold Harmless Agreement may not be enforceable in some situations. Why are indemnification provisions important?The indemnification agreement is between the responsible party and DOT only. Sample Contractual Clauses on Liability and Indemnification. Limits liability under the entire agreement, including the indemnification provision.

Indemnification Clause In Contract Sample

Description Indemnification Agreement Sample

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How to fill out Indemnification Clause In Contract Sample?

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Indemnification Contract Other Form Names

Indemnification Agreement Template FAQ

What are the most important clauses in a construction contract for the contractor?

Why do you need an indemnity clause?

What is an indemnification clause in a construction contract?

How do you write an indemnification clause?

Can you indemnify an independent contractor?

Interesting Questions

What is an indemnification clause in a construction contract?

Why is an indemnification clause important in a construction contract?

What types of losses are typically covered by an indemnification clause?

Does an indemnification clause always make one party fully responsible for any damages or losses?

Are there any limitations to an indemnification clause in a construction contract?

Can an indemnification clause protect against all liabilities in a construction contract?

What should I consider before agreeing to an indemnification clause?

Can an indemnification clause be modified or removed from a construction contract?

What happens if a party fails to fulfill its indemnification obligations?

Should I consult an attorney before signing a construction contract with an indemnification clause?

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