The Broward Florida Field Warehouse Storage and Indemnity Agreement refers to a legally binding contract that outlines the terms and conditions of storing goods in a field warehouse in the Broward County area of Florida. This agreement is designed to protect both the owner of the stored goods, referred to as the "Depositor," and the field warehouse operator, known as the "Warehouseman." The Broward Florida Field Warehouse Storage and Indemnity Agreement typically contains the following key elements: 1. Parties Involved: The agreement identifies the Depositor and the Warehouseman, outlining their legal names and contact information. 2. Description of Goods: The agreement specifies the nature and quantity of goods being stored in the field warehouse. This may include detailed descriptions, serial numbers, or any other identifying information necessary for accurate documentation. 3. Storage Period: The agreement outlines the duration for which the goods will be stored in the field warehouse. It may include start and end dates or outline the storage period in terms of days, months, or years. 4. Storage Fees: Details regarding the fees charged for storing the goods in the field warehouse are included. This section may cover the rate, payment terms, and any additional fees or charges that may be applicable. 5. Insurance and Liability: The agreement addresses the insurance coverage requirements for the stored goods, specifying if the Depositor or the Warehouseman should obtain the policy. Additionally, it clearly states the liability of each party in the event of loss, damage, theft, or any other potential risks during the storage period. 6. Indemnification: This section outlines the indemnity clause, which ensures that one party will compensate the other for any losses, damages, or legal liabilities incurred during the storage period. It defines the scope of indemnity and the circumstances in which it applies. 7. Termination and Dispute Resolution: The conditions under which the agreement can be terminated are stated, along with the process for resolving any disputes that may arise between the Depositor and the Warehouseman. Different types of Broward Florida Field Warehouse Storage and Indemnity Agreements can include variations depending on the specific requirements of the parties involved or the industry in which the goods are stored. Some possible variations include agreements tailored for perishable goods, hazardous materials, or high-value items, each with their unique terms and conditions. In conclusion, the Broward Florida Field Warehouse Storage and Indemnity Agreement is a legal document that governs the storage of goods in a field warehouse in Broward County, Florida. It safeguards the interests of both the Depositor and the Warehouseman by clearly defining the responsibilities, liabilities, and financial aspects associated with the storage arrangement.
Broward Florida Field Warehouse Storage and Indemnity Agreement
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Indemnity is a contractual agreement between two parties. In this arrangement, one party agrees to pay for potential losses or damages caused by another party.
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
Do hereby for ourselves and our heirs, legal representatives, executors and administrators, jointly and severally UNDERTAKE AND AGREE to indemnify you and your successors and assign against all claims, demands, proceedings, losses, damages, charges and expenses which may be raised against or incurred by you by Page 2
The two parties of the contract will sign the indemnification agreement. This means the indemnitee, or the person/business/company providing the good/service, will sign the document. The indemnifier, or the person/business/company receiving the good/service, will sign the document as well.
An indemnification provision allocates the risk and expense in the event of a breach, default, or misconduct by one of the parties. By Jennifer Paley. An indemnification provision, also known as a hold harmless provision, is a clause used in contracts to shift potential costs from one party to the other.
Definition of indemnity 1a : security against hurt, loss, or damage. b : exemption from incurred penalties or liabilities.
To indemnify someone is to absolve that person from responsibility for damage or loss arising from a transaction. Indemnification is the act of not being held liable for or being protected from harm, loss, or damages, by shifting the liability to another party.
An indemnity agreement is a contract that protect one party of a transaction from the risks or liabilities created by the other party of the transaction. Hold harmless agreement, no-fault agreement, release of liability, or waiver of liability are other terms for an indemnity agreement.200c
To indemnify something basically means to make good a loss. In other words, it means that one party will compensate the other in case it suffers some losses. For example, A promises to deliver certain goods to B for Rs. 2,000 every month.
Contracts between two parties might mean that one of the parties could be held liable for losses or damages from their activities as a party to the agreement. The indemnity agreement is intended to protect the party that might be liable, holding the person harmless from that liability.