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.
Oregon Indemnity Provisions — Exclusivity of Indemnity as a Remedy is a legal concept that pertains to the contractual agreements between parties involved in an indemnity arrangement in the state of Oregon. In essence, it limits the rights and remedies available to the injured party, emphasizing the exclusivity of indemnity as the sole remedy. Indemnity provisions are contractual clauses that allocate the risk of loss or liability between the parties involved in a contract. These provisions typically require one party (the indemnity) to compensate the other party (the indemnity) for any losses, damages, or expenses incurred as a result of specified risks or events. In Oregon, the concept of exclusivity of indemnity as a remedy is essential in determining the scope and limitations of indemnity provisions. It holds that when parties have agreed to an indemnity provision, the indemnity's exclusive recourse for indemnity is limited to the terms laid out in the contract. This means that the indemnity cannot seek additional remedies or recover damages beyond what is specifically outlined in the agreement. Different types of Oregon Indemnity Provisions — Exclusivity of Indemnity as a Remedy may include: 1. Broad Form Indemnity: This type of provision requires the indemnity to indemnify the indemnity for all losses, damages, or expenses, regardless of fault or negligence. The broad form indemnity provision's exclusivity of remedy enforces that the indemnity cannot seek compensation from other sources, such as insurance or a third party. 2. Intermediate Form Indemnity: This provision holds the indemnity responsible for losses, damages, or expenses caused by their own negligence or fault, but not for those caused by the indemnity's negligence or fault. This type of indemnity provision restricts the indemnity's remedy exclusively to losses resulting from the indemnity's acts or omissions. 3. Limited Form Indemnity: Limited form indemnity provisions specify particular risks or events for which the indemnity will indemnify the indemnity. This type of provision may restrict the indemnity's remedy to losses directly related to the specified risks, leaving them accountable for any other losses or damages incurred. 4. Anti-Indemnity Statutes: In some cases, Oregon law limits the enforceability of certain indemnity provisions. For example, the Oregon Construction Contractors Board (CCB) restricts the use of indemnity provisions in construction contracts related to personal injury or property damage caused by the indemnity's negligence. Understanding the various types of Oregon Indemnity Provisions — Exclusivity of Indemnity as a Remedy is crucial when drafting and negotiating contracts in Oregon, as these provisions can significantly impact the rights and remedies available to the parties involved. It is advisable to consult with an experienced attorney familiar with Oregon contract law to ensure compliance and protection when entering into an indemnity agreement.Oregon Indemnity Provisions — Exclusivity of Indemnity as a Remedy is a legal concept that pertains to the contractual agreements between parties involved in an indemnity arrangement in the state of Oregon. In essence, it limits the rights and remedies available to the injured party, emphasizing the exclusivity of indemnity as the sole remedy. Indemnity provisions are contractual clauses that allocate the risk of loss or liability between the parties involved in a contract. These provisions typically require one party (the indemnity) to compensate the other party (the indemnity) for any losses, damages, or expenses incurred as a result of specified risks or events. In Oregon, the concept of exclusivity of indemnity as a remedy is essential in determining the scope and limitations of indemnity provisions. It holds that when parties have agreed to an indemnity provision, the indemnity's exclusive recourse for indemnity is limited to the terms laid out in the contract. This means that the indemnity cannot seek additional remedies or recover damages beyond what is specifically outlined in the agreement. Different types of Oregon Indemnity Provisions — Exclusivity of Indemnity as a Remedy may include: 1. Broad Form Indemnity: This type of provision requires the indemnity to indemnify the indemnity for all losses, damages, or expenses, regardless of fault or negligence. The broad form indemnity provision's exclusivity of remedy enforces that the indemnity cannot seek compensation from other sources, such as insurance or a third party. 2. Intermediate Form Indemnity: This provision holds the indemnity responsible for losses, damages, or expenses caused by their own negligence or fault, but not for those caused by the indemnity's negligence or fault. This type of indemnity provision restricts the indemnity's remedy exclusively to losses resulting from the indemnity's acts or omissions. 3. Limited Form Indemnity: Limited form indemnity provisions specify particular risks or events for which the indemnity will indemnify the indemnity. This type of provision may restrict the indemnity's remedy to losses directly related to the specified risks, leaving them accountable for any other losses or damages incurred. 4. Anti-Indemnity Statutes: In some cases, Oregon law limits the enforceability of certain indemnity provisions. For example, the Oregon Construction Contractors Board (CCB) restricts the use of indemnity provisions in construction contracts related to personal injury or property damage caused by the indemnity's negligence. Understanding the various types of Oregon Indemnity Provisions — Exclusivity of Indemnity as a Remedy is crucial when drafting and negotiating contracts in Oregon, as these provisions can significantly impact the rights and remedies available to the parties involved. It is advisable to consult with an experienced attorney familiar with Oregon contract law to ensure compliance and protection when entering into an indemnity agreement.
