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Properties of this Indemnity Agreement |
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 MS-Word format (.doc) |
2 pages |
270 words |
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Document Description:
An Indemnity Agreement or Hold Harmless Provision is an agreement whereby one party (the Indemnitor) agrees to hold another party (the Indemnitee) harmless of any injuries or financial losses. This agreement therefore legally exempts the Indemnitee and its kin from all liability, as the Indemnitor assumes all responsibility for losses and damages.
In some circumstances, the agreement may be used to restore the Indemnitee to its initial financial state should it incur a loss or, for example, in the case of an extreme sports company, the latter will ask its clients to sign an Indemnity Agreement before performing a bungee jump; by signing the agreement, the client or Indemnitor agrees to hold the company harmless (and non-liable) for any injury, harm and any other undesirable outcome that may arise from bungee jumping.
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