This form provides boilerplate contract clauses that define the exclusivity or nonexclusivity of indemnity as a remedy under the terms of the contract agreement. Different language options for exclusivity and nonexclusivity are included.
Massachusetts Indemnity Provisions — Exclusivity of Indemnity as a Remedy is a legal concept that pertains to contractual agreements within the state of Massachusetts. Under this provision, indemnity is considered an exclusive remedy for the party asserting the indemnification claim. This means that in situations where an indemnity (the party providing indemnity) commits a breach of contract or is found to be negligent, the injured party (indemnity) can only seek compensation through the indemnity agreement. However, it is important to note that there are different types of Massachusetts Indemnity Provisions — Exclusivity of Indemnity as a Remedy. The two main types are: 1. Contractual Indemnity: This type of provision is typically found in contracts between parties, such as construction contracts, lease agreements, or service contracts. It outlines the obligations of the indemnity in terms of compensating the indemnity for loss or damage resulting from specified events, such as negligence or breach of contract. 2. Statutory Indemnity: Massachusetts also has certain laws that establish indemnity provisions in specific situations. For instance, the Massachusetts General Laws Chapter 149, Section 29C, sets forth indemnity obligations for construction projects, protecting subcontractors and suppliers from claims arising out of the negligent or wrongful acts of the general contractor. In both cases, these indemnity provisions operate on the principle of exclusivity, ensuring that indemnity is the sole remedy available to the indemnity in cases of breach or negligence. This can provide a level of security to parties entering into contracts, as they know that they have a clear avenue for recourse in the event of harm or loss caused by the other party's actions. To summarize, the Massachusetts Indemnity Provisions — Exclusivity of Indemnity as a Remedy establishes indemnity as the exclusive means of seeking compensation for breach of contract or negligence. It encompasses both contractual and statutory provisions, providing clarity and protection to parties involved in various types of agreements within the state of Massachusetts.
