Louisiana Form of Indemnification Agreement by Southwest Gas
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How to fill out Form Of Indemnification Agreement By Southwest Gas?
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Each party shall indemnify the other party from any and all claims, causes of action, suits, damages or demands whatsoever, arising out of any breach of this agreement by the indemnifying party.
Indemnification clauses are often used to allocate risk and responsibility between the parties in a contract. For example, if you are a service provider, you may want to indemnify your client from any claims or damages arising from your work. This can help you secure the contract and build trust with your client.
Indemnity Agreement: Although similar to a hold harmless agreement, an indemnity agreement is an arrangement whereby one party agrees to pay the other party for any damages regardless of who is at fault.
Example of Indemnity in Business If the building sustains significant structural damages from fire, then the insurance company will indemnify the owner for the costs to repair by way of reimbursing the owner or by reconstructing the damaged areas using its own authorized contractors.
How to Write an Indemnity Agreement Consider the Indemnity Laws in Your Area. ... Draft the Indemnification Clause. ... Outline the Indemnification Period and Scope of Coverage. ... State the Indemnification Exceptions. ... Specify How the Indemnitee Notifies the Indemnitor About Claims. ... Write the Settlement and Consent Clause.
Example: Indemnify and Hold Harmless Clause The supplier agrees to indemnify and hold harmless the customer against all claims arising in respect of any injury, death, sickness or ill-health caused to or suffered by the customer and its personnel as a result of performance or non-performance of this Agreement.
Service Provider hereby releases, indemnifies, defends and holds harmless Owner and the other Owner Indemnified Parties from and against any and all Liabilities (a)to the extent attributable to or arising out of the gross negligence or willful misconduct of any Service Provider Indemnified Parties or (b)for personal ...
An indemnification clause is a legally binding agreement between two parties specifying that one party (the indemnifying party) will compensate the other party (the indemnified party) for any losses or damages that may arise from a particular event or circumstance.