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There are 3 levels of indemnification: broad form, intermediate form, and limited form. Broad Form Indemnification. ... Intermediate Form Indemnification. ... Limited Form Indemnification.

In order from most to least protective, the three types of indemnity agreements are broad form, intermediate form, and limited form. In the explanations below, we will refer to parties as either indemnitors or indemnitees. The indemnitor is the party waiving their right to hold the other party responsible for damages.

A hold harmless clause is an agreement that moves property liability onto one or more collaborating parties in an agreement. It's a statement that absolves a party for any damage or injuries suffered by the party signing the contract.

In order from most to least protective, the three types of indemnity agreements are broad form, intermediate form, and limited form. In the explanations below, we will refer to parties as either indemnitors or indemnitees. The indemnitor is the party waiving their right to hold the other party responsible for damages.

Hold harmless is defined as a promise in a contract, by one party not to hold the other party responsible if the other party carries out the contract in a way that causes damage to the first party.

For example, a contractor hired to add a deck to a private home may add a clause to preempt a lawsuit if an injury occurs on the deck at a later date. The homeowner, in turn, may use a hold harmless agreement to prevent a lawsuit if the contractor suffers an injury during the course of the work.

When properly written, the intent of a hold harmless or indemnification agreement is to impose on one party the responsibility to pay all liability, damages, costs, expenses, and even attorney's fees for the other party to the agreement.

To indemnify means to compensate someone for his/her harm or loss. 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.

A Hold Harmless Agreement is a legal contract that states that one or both signers will not hold the other party responsible for injuries or damage. A Hold Harmless clause can be one-way ("unilateral") or two-way ("reciprocal").

A release of liability, 'hold harmless agreement' or 'indemnity agreement', is a legal document that indemnifies an individual or business entity from legal and/or financial responsibility. Although, this is usually limited to negligence on behalf of the party being held harmless.