What is an example of indemnity contract?

For example, A promises to deliver certain goods to B for Rs. 2,000 every month. C comes in and promises to indemnify B's losses if A fails to so deliver the goods. This is how B and C will enter into contractual obligations of indemnity.

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Riverside California Ratification and approval of directors and officers insurance indemnity fund with copy of agreement

Name: Riverside California Ratification and approval of directors and officers insurance indemnity fund with copy of agreement
Brand: US Legal Forms
Rating: 4.86 (305 reviews)

Category:

Corporations - Public - Indemnification

State:

Multi-State

County:

Riverside

Control #:

US-CC-17-134

Format:

Instant download

Description

This sample form, a detailed Ratification and Approval of Directors and Officers Insurance Indemnity Fund w/Copy of Agreement, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.

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How to fill out Riverside California Ratification And Approval Of Directors And Officers Insurance Indemnity Fund With Copy Of Agreement?

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A letter of indemnity (LOI) is a legal agreement that renders one or both parties to a contract harmless by some third party in the event of a delinquency or breach by the contracted parties. In other words, the party or parties are indemnified against a possible loss by some third party, such as an insurance company.

Definition of indemnity 1a : security against hurt, loss, or damage. b : exemption from incurred penalties or liabilities.

Indemnity benefits are monetary payments you may be entitled to receive as compensation for lost wages or damages related to your workers' compensation claim.

Indemnification. Indemnification is an undertaking by the company to defend the director and officer against the cost of certain claims, including legal fees, litigation awards and settlement costs.

For example, A promises to deliver certain goods to B for Rs. 2,000 every month. C comes in and promises to indemnify B's losses if A fails to so deliver the goods. This is how B and C will enter into contractual obligations of indemnity.

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

Example 1: Here is an example of a simple indemnity clause in a contract: "I hereby release, acquit and discharge company and its agents and employees from any liability arising from any circumstance including the negligence of company or its employees.

Indemnity is a comprehensive form of insurance compensation for damages or loss. In this type of arrangement, one party agrees to pay for potential losses or damages caused by another party.

Letters of indemnity should include the names and addresses of both parties involved, plus the name and affiliation of the third party. Detailed descriptions of the items and intentions are also required, as are the signatures of the parties and the date of the contract's execution.

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Total fiscal year General Fund budget thereafter. (A copy of this Agreement is included in.Agreement Between. STATE OF CALIFORNIA and. Approval of Bid Awards. Indemnification; Director's and Officer's Insurance . Confirmation and Ratification of the City Manager's Approval of Emergency. Indemnify and keep indemnified councillors, members of committees, the Chief.

Riverside California Ratification and approval of directors and officers insurance indemnity fund with copy of agreement

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What is the Riverside Ratification and approval of directors and officers insurance indemnity fund?

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