The Waiver And Indemnity Agreement is essential in situations where activities involve inherent risks or potential liability exposure. This document is commonly used across the United States when participants engage in potentially hazardous activities or when organizations need protection from claims. It serves dual purposes: first, it documents that participants understand and accept certain risks, and second, it establishes their agreement to hold the organization harmless from related claims. The agreement must comply with state-specific requirements and federal regulations, particularly regarding the scope of waivable rights and indemnification obligations.
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1. Parties: Identification of all parties entering into the agreement, including legal names and addresses
2. Background/Recitals: Context and purpose of the waiver and indemnity agreement
3. Definitions: Key terms used throughout the agreement
4. Waiver Provisions: Specific rights, claims, and remedies being waived
5. Indemnification Obligations: Scope and extent of indemnification responsibilities
6. Term and Survival: Duration of the agreement and which provisions survive termination
7. Governing Law: Jurisdiction and applicable law
1. Insurance Requirements: Specific insurance coverage requirements and minimum coverage levels that must be maintained
2. Limitation of Liability: Caps or restrictions on liability exposure and exclusions from indemnification
3. Dispute Resolution: Process for resolving disputes including mediation or arbitration procedures
4. Severability: Provisions for maintaining validity if parts are found unenforceable
1. Schedule of Activities: List of specific activities covered by the waiver
2. Schedule of Risks: Detailed description of risks being waived
3. Insurance Schedule: Details of required insurance coverage, including types and amounts
4. Signature Page: Formal execution page with witness provisions if required
Relevant legal definitions
Clauses
Relevant Industries
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