The Hold Harmless Indemnity Agreement is essential in situations where parties need to allocate risk and responsibility for potential losses or legal claims. This document is commonly used in the United States when one party wishes to be protected from liability arising from another party's activities or when engaging in potentially risky ventures. The agreement typically includes specific terms about what is covered, exclusions, duration of protection, and procedures for handling claims. It's particularly important to note that while these agreements are generally enforceable under U.S. law, their scope and limitations vary by state, and they cannot protect against all forms of liability, particularly those involving gross negligence or willful misconduct.
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1. Parties: Identification of the indemnitor and indemnitee with full legal names and addresses
2. Background: Context and purpose of the indemnification agreement
3. Definitions: Key terms used throughout the agreement including 'Claims', 'Losses', 'Indemnified Parties'
4. Scope of Indemnification: Detailed description of what is covered by the indemnification
5. Indemnification Obligations: Specific obligations of the indemnitor including types of claims and losses covered
6. Term and Survival: Duration of the agreement and which provisions survive termination
7. Governing Law: Specification of the jurisdiction and applicable law
8. Execution: Signature blocks and date of agreement
1. Insurance Requirements: Details of required insurance coverage and minimum policy amounts
2. Notice Requirements: Procedures and timeframes for providing notice of claims
3. Defense Rights: Rights and obligations regarding legal defense of claims
4. Limitation of Liability: Caps or restrictions on the extent of indemnification obligations
5. Dispute Resolution: Procedures for resolving disputes related to indemnification claims
1. Schedule A - Covered Activities: Detailed list of activities, operations, or circumstances covered by the indemnification
2. Schedule B - Insurance Requirements: Specific insurance requirements including types and amounts of coverage
3. Schedule C - Excluded Claims: List of specific claims or circumstances excluded from indemnification
4. Schedule D - Notice Procedures: Detailed procedures for claim notification and documentation requirements
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