Santa Clara California Ratification and Approval of Indemnity Agreements

Name: Santa Clara California Ratification and Approval of Indemnity Agreements
Brand: US Legal Forms
Rating: 4.74 (376 reviews)

Category:

Corporations - Public - Indemnification

State:

Multi-State

County:

Santa Clara

Control #:

US-CC-17-101E-NE

Format:

Instant download

Description

This sample form, a detailed Ratification and Approval of Indemnity Agreements, is a model for use in corporate matters. The language may be very useful in drafting a similar document to fit your specific circumstances. Available in several standard formats.

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FAQ

Enforcement of Contract of Indemnity A contract of indemnity can be invoked according to its terms like the express promise. Damages, legal costs of judgement, the amount paid under the terms of the agreement are some of the claims which Indemnity holder can include in its claims.

An indemnity agreement is a contract that protects 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.?

In legal terms, indemnity requires a nondelivering entity to compensate the aggrieved party for losses it incurred or expects to as a result of the nonperformance. An indemnity clause can also act an as exemption from liability from damages, so the wording of the agreement is extremely important.

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.

Indemnification, also referred to as indemnity, is an undertaking by one party (the indemnifying party) to compensate the other party (the indemnified party) for certain costs and expenses, typically stemming from third-party claims.

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.

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.

Most states hold that indemnity provisions are enforceable as written. These clauses will likely be construed in accordance with the rules of construction that apply to contracts generally. However, the freedom to contract will be limited by Courts who will disallow contracts in contravention of public policy.

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.

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Exhibit B The County of Santa Clara General Aviation Aircraft License Agreement, in effect as of August 11, 2014. 356\3565257.1. Agreement Between.The Santa Clara Unified School District. Assigned to provide services under this Agreement are qualified to provide the services set forth in the Scope of Work. Status Controllers performing under the Employer's 911 contract with the County of Santa Clara, at, and out of, its facility. Staff is requesting the Commission to ratify the services agreement between.

Santa Clara California Ratification and Approval of Indemnity Agreements

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