Santa Clara California Indemnity Agreement for an Event

Name: Santa Clara California Indemnity Agreement for an Event
Brand: US Legal Forms
Rating: 4.63 (335 reviews)

Category:

Contracts - Indemnification

State:

Multi-State

County:

Santa Clara

Control #:

US-00534

Format:

Instant download

Description

Indemnitors covenant and agree to defend, indemnify and hold harmless, absolutely and unconditionally, the indemnitee from and against any and all damages, losses, claims, demands, actions, causes of actions, costs, expenses, liabilities and obligations of any kind whatsoever, including, but not limited to, attorney's fees in a certain matter.

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FAQ

The most common forms of indemnity agreements are broad form indemnity agreements, intermediate type indemnity agreements, and comparative form indemnity agreements. The usage of these agreements depends on the industry.

The most common example of indemnity in the financial sense is an insurance contract. For instance, in the case of home insurance, homeowners pay insurance to an insurance company in return for the homeowners being indemnified if the worst were to happen.

Why are indemnification provisions important? Indemnification clauses allow a contracting party to: Customize the amount of risk it is willing to undertake in each transaction and with every counterparty. Protect itself from damages and lawsuits that are more efficiently borne by the counterparty.

It's a clause that contractually obligates one party to compensate another party for losses or damages that have occurred or could occur in the future. a contract by which one engages to save another from a legal consequence of the conduct of one of the parties, or of some other person.

Put simply, indemnity is a contractual agreement between two parties, where one party agrees to pay for potential losses or damages claimed by a third party. For example, say you own a shopping centre, and you hire a snow removal service to clear your parking lot in the winter.

There are 3 levels of indemnification: broad form, intermediate form, and limited form. This requires the indemnitor to pay not only for its liabilities but also for the indemnitee's liability whether the indemnitee is solely (i.e. 100%) at fault or partially at fault.

Indemnification provisions are generally enforceable. There are certain exceptions however. Indemnifications that require a party to indemnify another party for any claim irrespective of fault ('broad form' or 'no fault' indemnities) generally have been found to violate public policy.

?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.

Indemnification clauses should include expenses, such as legal expenses, in addition to requiring compensation for claims, losses and damages.

?Company/Business/Individual Name shall fully indemnify, hold harmless and defend and its directors, officers, employees, agents, stockholders and Affiliates from and against all claims, demands, actions, suits, damages, liabilities, losses, settlements, judgments, costs and expenses (including but not

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Santa Clara California Indemnity Agreement for an Event

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What is the most common form of indemnity agreement?

What is an example of indemnity?

What is the purpose of an indemnification agreement?

What is a good indemnity clause?

How does an indemnity agreement work?

What are the three 3 methods of indemnity?

Is an indemnity legally binding?

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What is an indemnity agreement?

Why do I need to sign an indemnity agreement for Event718458?

What risks or liabilities does the Santa Clara Indemnity Agreement cover for Event718458?

Do I still need to sign the indemnity agreement if I am not directly involved in organizing Event718458?

If I sign the indemnity agreement, does that mean I cannot take legal action if something goes wrong during Event718458?

What happens if I refuse to sign the Santa Clara Indemnity Agreement for Event718458?

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