Indemnity Agreement Sample With Clause

State:
Multi-State
Control #:
US-02512BG
Format:
Word; 
PDF; 
Rich Text
109 downloads

Description

The Indemnity Agreement regarding Sale of Industrial Specialty Equipment is a legal document designed to protect the parties involved when one corporation (Indemnitor) purchases industrial equipment from another corporation (Indemnitee). The agreement includes a comprehensive indemnification clause that establishes that the Indemnitor assumes all risks associated with the installation and use of the equipment, thus agreeing to hold the Indemnitee harmless from any liabilities that may arise. Key features of the document include provisions for compliance with safety regulations, waiver of claims against the Indemnitee, and terms addressing severability, governing law, and dispute resolution through arbitration. Users are guided to fill in specific details, such as names and addresses, and are advised that modifications must be documented in writing. The form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in corporate transactions or equipment sales, as it clearly delineates responsibilities and liabilities, thereby minimizing legal risks associated with equipment-related operations.
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FAQ

Per the bracketed language below, an indemnity clause may include additional promises to defend and to hold the other party harmless if the event or condition occurs or if a third party makes a claim.

Some best practices to draft an indemnification clause are: use plain and simple words, avoid jargon or technical terms, specify the parties and the claims or losses covered by the indemnity, define the terms and conditions of the indemnity, include any exceptions or limitations of the indemnity, and use headings and ...

?Consultant agrees to hold harmless and indemnify Client from any and all liability, arising out of Consultant's negligence, whether it be sole or in concert with others, in connection with performance of the services described herein.? caused by Consultant's negligent performance of services.?

Indemnity clauses will specify what types of loss or harm they cover, for example: all lawsuits, actions or proceedings, demands, damages and liabilities; all claims, liabilities, losses, expenses and damages arising from the contract; loss or damage or injury to property; and.

Each party (the ?Indemnifying Party?) shall indemnify, defend and hold harmless the other party (the ?Indemnified Party?), its affiliates, and its respective officers, directors, employees, agents, and representatives from and against any and all claims, damages, losses, liabilities, judgments, settlements, costs and ...

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Indemnity Agreement Sample With Clause