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.

What is an indemnification clause and why might I want to include one in a contract?

Indemnification clauses are clauses in contracts that set out to protect one party from liability if a third-party or third entity is harmed in any way. 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.

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Amendment of Articles to Expand Indemnification of Agents

Fulton Georgia Amendment of Articles to Expand Indemnification of Agents

Name: Fulton Georgia Amendment of Articles to Expand Indemnification of Agents
Brand: US Legal Forms
Rating: 4.88 (240 reviews)

Category:

Corporations - Public - Indemnification

State:

Multi-State

County:

Fulton

Control #:

US-CC-17-189-NE

Format:

Instant download

Description

This sample form, a detailed Amendment of Articles to Expand Indemnification of Agents, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats. The Fulton Georgia Amendment of Articles to Expand Indemnification of Agents is a crucial legal provision that aims to enhance the protection and support offered to agents working within the Fulton County jurisdiction. This amendment focuses on expanding the indemnification rights of agents in order to mitigate the risks and liabilities they may encounter while fulfilling their responsibilities. Keywords: Fulton Georgia Amendment, Articles of Incorporation, indemnification, agents, expansion, protection, liability, legal provision, jurisdiction. There are no specific types mentioned in the prompt, but it is important to mention that different industries or organizations may have specific variations or requirements for indemnification. Some possible examples could include indenture trustees, insurance agents, real estate agents, or corporate agents. However, further details or specific types of agents were not given in the prompt.

The Fulton Georgia Amendment of Articles to Expand Indemnification of Agents is a crucial legal provision that aims to enhance the protection and support offered to agents working within the Fulton County jurisdiction. This amendment focuses on expanding the indemnification rights of agents in order to mitigate the risks and liabilities they may encounter while fulfilling their responsibilities. Keywords: Fulton Georgia Amendment, Articles of Incorporation, indemnification, agents, expansion, protection, liability, legal provision, jurisdiction. There are no specific types mentioned in the prompt, but it is important to mention that different industries or organizations may have specific variations or requirements for indemnification. Some possible examples could include indenture trustees, insurance agents, real estate agents, or corporate agents. However, further details or specific types of agents were not given in the prompt.

How to fill out Fulton Georgia Amendment Of Articles To Expand Indemnification Of Agents?

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FAQ

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.

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.

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.

Intermediate indemnity is the most common form of indemnity. With intermediate indemnity the indemnitor assumes liability if it has contributed to the fault. If the indemnitee is solely at fault, the indemnitor is not liable.

You should look to limit indemnification clauses by narrowing their scope, putting in caps on damages, and clearly defining the indemnifiable acts (i.e. the representations and warranties in the example above). Also consider purchasing insurance as a means to limit your financial risk.

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.

Indemnification clauses are clauses in contracts that set out to protect one party from liability if a third-party or third entity is harmed in any way. 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.

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

1. The Indemnifier hereby agrees to indemnify and keep indemnified and harmless. MCL/Indemnified herein from time to time, at all times hereafter against all losses, claims, demands, proceedings, expenses, costs and consequences whatsoever on full.

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

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Fulton Georgia Amendment of Articles to Expand Indemnification of Agents

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