The Restoration of Surface and indemnity by Assignee form, is used for the assignee to agree to restore the surface of the land included within the assigned assets as nearly as possible to its prelease condition when the use and operation on that part of the land is completed.
Massachusetts Restoration of Surface and indemnity by Assignee
Category:
State:
Multi-State
Control #:
US-OG-485
Format:
Word;
Rich Text
Instant download
Description
How to fill out Restoration Of Surface And Indemnity By Assignee?
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FAQ
There are three main types of express indemnity clauses: broad form, intermediate form, and limited form. Broad form express indemnity clauses require the indemnitor to hold the indemnitee harmless for all liability, even if the indemnitee is solely at fault.
B) The concept of actual cash value supports the principle of indemnity by ensuring that the insured does not receive more than the actual amount of their loss. This ensures that the insured is not overcompensated and prevents insurers from taking advantage of policyholders.
An indemnity agreement is a promise to hold another party harmless when that party suffers some injury, legal harm, or financial harm.
Indemnification, also referred to as indemnity, is an undertaking by one party (the indemnifying party) to compensate the other party (the indemnified party) for certain costs and expenses, typically stemming from third-party claims.
The prevailing interpretation is that ?hold harmless? and ?indemnify? are synonymous. However, under the minority view, ?hold harmless? requires payment of both actual losses and potential liabilities, while ?indemnify? protects against incurred losses only.
To indemnify, also known as indemnity or indemnification, means compensating a person for damages or losses they have incurred or will incur related to a specified accident, incident, or event.
