Colorado Springs Colorado Indemnity Agreement regarding Sale of Industrial Specialty Equipment
Category:
State:
Multi-State
City:
Colorado Springs
Control #:
US-02512BG
Format:
Word;
PDF;
Rich Text
Instant download
Description
To indemnify means to reimburse another for a loss suffered because of a third party's or one's own act or default. It can also refer to a promise to reimburse another for such a loss or to give another security against such a loss. The right to indemnity and the duty to indemnify commonly comes from a contractual agreement, which generally protects against liability, loss, or damage.
An indemnity agreement provides that one party to the agreement will reimburse the other for loss of injury that the party may suffer because of the occurrence of a specified event, or that one party will protect the other from harm or loss.
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