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A hold harmless disclosure is used when one party agrees not to hold the other party liable for any damage or injuries it suffers as a result of engaging in particular activities. A hold harmless agreement is usually instituted between buyers and sellers. They could also be between a buyer, seller, and a closing agent.

A hold harmless agreement protects business owners from being sued when someone suffers damage, bodily injury, or financial loss on business property or while a service is being provided.

A hold harmless agreement protects business owners from being sued when someone suffers damage, bodily injury, or financial loss on business property or while a service is being provided.

By signing a broad form hold harmless agreement you are possibly exposing your company to uninsurable risk. Contractual Liability Coverage for sole or gross negligent acts of your client is excluded is y most liability policies.As with all contracts, it is best to have legal counsel review prior to signing.

An apartment lease may have a hold harmless clause stating that the landlord is not responsible for any damage caused by the tenant. A homeowner hiring a roofer might request a hold harmless clause to protect against a lawsuit if the roofer falls off the roof.

Once the hold harmless agreement has been completed, simply have all parties sign and date to complete the document. Although not required, it is always a good idea to have the document notarized for extra protection.

Hold Harmless Agreements and Insurance Since a hold harmless clause is a legal contract, your insurance company may not pay for losses that occur as a result of your agreement. General liability policies often exclude workers' compensation claims.