What is indemnity example?

A common example of indemnification happens with reagrd to insurance transactions. This often happens when an insurance company, as part of an individual's insurance policy, agrees to indemnify the insured person for losses that the insured person incurred as the result of accident or property damage.

General Agreement Of Indemnity

Name: General Agreement Of Indemnity
Brand: US Legal Forms
Rating: 4.83 (338 reviews)

Category:

Corporations - Public - Agreements

State:

Multi-State

Control #:

US-EG-9454

Format:

Instant download

Description General Agreement Paper

General Agreement between Choice One Communications, Inc. and Lucent Technologies, Inc. regarding supply and procurement of products and services dated September 30, 1998. 69 pages.

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General Agreement Contract FAQ

A general agreement of indemnity, or GIA, is a contract between the surety company and the contractor and the other indemnitors. The GIA obligates the named indemnitors to protect the surety company from any loss or expense that the surety sustains as a result of having issued bonds on behalf of the bond principal.

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 is a contractual agreement between two parties. In this arrangement, one party agrees to pay for potential losses or damages caused by another party.

An indemnitor is a company or person agreeing to take on the obligation that would typically be placed on a surety if an individual defaults on a bond issued to him. If the applicant doesn't qualify for reasons of risk by the standards of the surety, an indemnitor might be necessary for the bond process.

A common example of indemnification happens with reagrd to insurance transactions. This often happens when an insurance company, as part of an individual's insurance policy, agrees to indemnify the insured person for losses that the insured person incurred as the result of accident or property damage.

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A GIA is a standard document in the construction and surety industries. A surety bond is a contract that guarantees you will fulfill your obligations.Surety companies require you to sign an Indemnity Agreement. The required GIA provides the surety with contractual rights that expand its common law rights against the individual and corporate indemnitors. The Surety's Common Law and Statutory Rights to. Reimbursement (Traditional Indemnity).. 3.

General Agreement Of Indemnity

Description General Agreement Paper

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How to fill out General Agreement Of Indemnity?

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General Agreement Sample Form Rating

General Agreement Purchase Form popularity

General Agreement Printable Other Form Names

General Agreement Contract FAQ

What is a general agreement of indemnity?

How do I write an indemnity agreement?

What is the purpose of an indemnity agreement?

Who is the indemnitor on a surety bond?

What is indemnity example?

Interesting Questions

What does General Agreement of Indemnity mean?

Why is the General Agreement of Indemnity important?

Who are the parties involved in the General Agreement of Indemnity?

What does indemnification mean?

What types of losses can be covered under the General Agreement of Indemnity?

How does the General Agreement of Indemnity handle disputes?

Can the General Agreement of Indemnity be modified?

What happens if one party breaches the General Agreement of Indemnity?

Is the General Agreement of Indemnity enforceable across different states?

What are some common pitfalls to avoid when drafting a General Agreement of Indemnity?

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