San Antonio Texas Indemnity Agreement of Telocity, Inc.

State:
Multi-State
City:
San Antonio
Control #:
US-EG-9102
Format:
Word; 
Rich Text
Instant download

Description

Indemnity Agreement between Telocity Inc. and ___________ dated 00/99 . 9 pages

San Antonio Texas Indemnity Agreement of Velocity, Inc., is a legal contract designed to protect Velocity, Inc., a company based in San Antonio, Texas, from any legal liabilities that may arise from its business operations. This indemnity agreement outlines the responsibilities, obligations, and rights of both parties involved — Telocity, Inc. and the indemnifying party. Keywords: 1. Indemnity Agreement: This is a legally binding contract that ensures one party (indemnified party) is protected against any losses, damages, or legal claims arising from the actions or omissions of another party (indemnifying party). In this case, Velocity, Inc. is the indemnified party. 2. San Antonio, Texas: San Antonio is a vibrant city located in the southern region of Texas, known for its rich history, cultural heritage, and economic growth. Velocity, Inc. is headquartered in San Antonio, Texas. Types of San Antonio Texas Indemnity Agreement of Velocity, Inc.: 1. General Indemnity Agreement: This type of indemnity agreement covers a broad range of potential legal claims that may arise from Velocity, Inc.'s business operations. It offers protection against various liabilities, such as personal injury claims, property damage claims, breach of contract claims, and intellectual property disputes. 2. Specific Indemnity Agreement: This type of indemnity agreement is customized to address specific risks or situations that Velocity, Inc. may face. It may include provisions specific to a particular project, partnership, or business transaction, providing indemnification for specific types of damages or losses. 3. Vendor Indemnity Agreement: If Velocity, Inc. engages with vendors or suppliers in its business operations, a vendor indemnity agreement may come into effect. This agreement ensures that the vendor or supplier indemnifies Velocity, Inc. against any liabilities arising from their products or services, such as defects, breaches of warranties, or intellectual property infringements. 4. Employee Indemnity Agreement: This type of indemnity agreement is relevant when Velocity, Inc. wants to protect its employees from potential lawsuits or claims related to their job duties or responsibilities. It may outline the extent of indemnification and the procedure employees must follow to invoke such protection. In summary, the San Antonio Texas Indemnity Agreement of Velocity, Inc. is a legally binding contract that safeguards Velocity, Inc. from legal liabilities arising from its business activities. Different types of indemnity agreements, such as general, specific, vendor, or employee agreements, may be used depending on the specific circumstances and risks involved.

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FAQ

$20/Month. The cost of professional indemnity insurance varies considerably. While these policies are extremely common, and typically inexpensive for most industries, the cost can increase significantly for specialized services with much higher risks.

If there is no indemnification clause, then the parties will not be entitled to any contractual indemnification. This does not mean that a party may not be held liable towards another party in a court of law, it just means that contractually a party cannot claim compensation for specific damages or expenses.

Key Takeaways. 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.

A party seeking to enforce an indemnity need not establish its liability to the third party, merely that a settlement was reasonable. A reasonable settlement may be claimed as damages for the indemnifier's breach of the obligation to indemnify.

An indemnity in a contract is a promise by one party to compensate the other party for loss or damage suffered by the other party during contract performance. An indemnity is also known as a 'hold harmless' clause as one party agrees to hold the other party harmless.

To indemnify means to compensate someone for his/her harm or loss. In most contracts, an indemnification clause serves to compensate a party for harm or loss arising in connection with the other party's actions or failure to act. The intent is to shift liability away from one party, and on to the indemnifying party.

Synonyms of indemnity compensation, damages, indemnification, quittance, recompense, recoupment, redress, remuneration,

Indemnification provisions are generally enforceable. There are certain exceptions however. Indemnifications that require a party to indemnify another party for any claim irrespective of fault ('broad form' or 'no fault' indemnities) generally have been found to violate public policy.

Indemnification clauses appear in nearly all commercial agreements. They are an essential risk allocation tool between the parties, and as such, they are one of the most commonly and heavily negotiated provisions in a contract.

Survival clauses cause certain provisions of a contract to remain valid after the expiration or termination of a contract. These types of clauses are typically used in non-disclosure agreements and non-competition provisions, as well as indemnities and insurance provisions.

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San Antonio Texas Indemnity Agreement of Telocity, Inc.