This form provides boilerplate contract clauses that cover procedural issues with regards to indemnity in both third-party and non-third-party claims. Several different language options are included to suit individual needs and circumstances.
Maryland Indemnity Provisions - Procedural Issues
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Multi-State
Control #:
US-ND1013
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Word;
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FAQ
Indemnity clauses are used to manage the risks associated with a contract. They enable one party to be protected against losses that may arise from the actions of another party.
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.
?To indemnify? means to compensate someone for his/her harm or loss. In most contracts, an indemnification clause serves to compensate a party for harm or loss arising in connection with the other party's actions or failure to act. The intent is to shift liability away from one party, and on to the indemnifying party.
A typical example is an insurance company wherein the insurer or indemnitor agrees to compensate the insured or indemnitee for any damages or losses he/she may incur during a period of time.
Indemnity is a type of insurance compensation paid for damage or loss. When the term is used in the legal sense, it also may refer to an exemption from liability for damage. Indemnity is a contractual agreement between two parties in which one party agrees to pay for potential losses or damage caused by another party.
The obligation to indemnify requires the indemnifying party to: Reimburse the indemnified party for its paid costs and expenses, referred to as losses. Advance payment to the indemnified party for its unpaid costs and expenses, such as: Liabilities.
"The State shall not assume any obligation to indemnify, hold harmless, or pay attorneys' fees that may arise from or in any way be associated with the performance or operation of this agreement."
The features of an indemnity clause are as follows: It is a promise to shift the liability or risk against loss, harm, or damage. It is not a separate agreement. ... By the structure and contents of the indemnity clause, the scope of any indemnification duties one party may have to another party is determined.
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.
A common formulation for the negligence exception is: "The Indemnifying Party is not obligated to indemnify the Indemnified Party for any claim arising out of the Indemnified Party's negligence or a more culpable act or omission, including recklessness or willful misconduct."