This is a Contractor Indemnification form, to be used across the United States. It is used to protect yourself against lawsuits by a Contractor's Employees.
Texas Contractor Indemnification
Category:
State:
Multi-State
Control #:
US-CGMCA-19
Format:
Word;
Rich Text
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How to fill out Contractor Indemnification?
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FAQ
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.
Recipient shall be liable for any damages resulting from any use or application of the Biological Material(s) and other related materials, and shall defend, hold harmless and indemnify University, System, their Regents, officers, employees and agents, against any and all claims, suits, actions, costs, counsel fees, ...
Indemnification clauses are exceedingly common in many contracts, but what you should pay close attention to is the scope of your indemnification agreement. Generally, you should only agree to pay for losses arising from your own actions and not the other party's actions.
(a) An action for default under a lease contract, including breach of warranty or indemnity, must be commenced within four years after the cause of action accrued.
Indemnification clauses appear in nearly all commercial agreements. They are an essential risk allocation tool between the parties, and as such, they are one of the most commonly and heavily negotiated provisions in a contract.
TEXAS ANTI-INDEMNITY ACT Prohibits and makes void broad form and intermediate form indemnity agreements (claims involving the sole or concurrent negligence of indemnitee) for construction projects, if the Act applies to your contract.
Thus, it is critical for every contractor to understand the meaning of indemnification before executing a contract. An indemnification provision is a contractual provision under which one party (the indemnitor) agrees to assume liability for the losses incurred by another party (the indemnitee).
Indemnity being a 'hold harmless' agreement This clause absolves the manufacturing company of losses in case one of the contractor's personnel gets injured while using the crane. The contractor here indemnifies the manufacturer.