What does indemnify the third party mean?

Indemnification means that if the third party is sued due to the client's negligence, the client is required to pay for the claim.

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Indemnity Provisions - Parties to the Indemnity

Bexar Texas Indemnity Provisions - Parties to the Indemnity

Name: Bexar Texas Indemnity Provisions - Parties to the Indemnity
Brand: US Legal Forms
Rating: 4.61 (484 reviews)

Category:

Contracts - Clauses - Indemnification

State:

Multi-State

County:

Bexar

Control #:

US-ND1006

Format:

Instant download

Description

This form provides boilerplate contract clauses that designate the rights of parties to appoint an Indemnitor Representative and outlines such representative's powers and obligations under the contract.

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In a mutual indemnification, both parties agree to compensate the other party for losses arising out of the agreement to the extent those losses are caused by the indemnifying party's breach of the contract. In a one-way indemnification, only one party provides this indemnity in favor of the other party.

Scope of Indemnification Limit the indemnification so it only applies to third party claims. Any claims by the parties to the contract should be covered by the contract itself, and not a separate indemnification obligation.

In contract law, indemnity is a contractual obligation of one party (indemnifier) to compensate the loss incurred to the other party (indemnity holder) due to the acts of the indemnitor or any other party.

The two parties are: Indemnifier: Someone who protects against or compensates for the loss of the damage received. Indemnified/Indemnity-holder: The other party who is compensated against the loss suffered.

Indemnification means that if the third party is sued due to the client's negligence, the client is required to pay for the claim.

There are generally two parties in indemnity contracts. The person who promises to indemnify for a loss is the Indemnifier. On the other hand, the person whose losses the indemnifier promises to make good is the Indemnified. We can also refer to the Indemnified party as the Indemnity Holder.

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.

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An indemnity requires a commitment from one party (the indemnifier) to pay for the financial loss incurred by another party (the indemnified party) where a pre-agreed event occurs or does not occur.

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The defendant in this case is Titan Indemnity Company. Picking up litter, ORGANIZATION shall act as an independent contractor. INDEMNITY. 7.01 ORGANIZATION agrees to indemnify and hold COUNTY harmless for any. A term or clause is conspicuous when it is so written that a reasonable person against whom it is to operate ought to have noticed it. Donald Pieper (Denver, Colorado).

Bexar Texas Indemnity Provisions - Parties to the Indemnity

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Can both parties indemnify each other?

Does indemnification only apply to third parties?

What do you understand by indemnity holder?

Who is indemnity holder and Indemnifier?

What does indemnify the third party mean?

Who are the parties in indemnity?

What is the process of indemnity?

Can you indemnify someone?

What are the parties to an indemnity agreement called?

Who are the parties to a contract of indemnity?

Interesting Questions

What is Bexar Indemnity Provision?

Who are the parties involved in the Indemnity701457 provisions?

What does indemnification mean?

What are the obligations of the indemnitor under the Bexar Indemnity Provision?

Can you provide examples of events or situations covered by the Bexar Indemnity Provision?

Are there any limits on the indemnitor's liability?

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