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Obtain access to the Maine Sample Environmental Indemnity Agreement with US Legal Forms, probably the most comprehensive library of authorized record templates. Use thousands of professional and express-certain templates that meet your business or person requirements and specifications.
Company/Business/Individual Name shall fully indemnify, hold harmless and defend and its directors, officers, employees, agents, stockholders and Affiliates from and against all claims, demands, actions, suits, damages, liabilities, losses, settlements, judgments, costs and expenses (including but not
Definition of indemnity 1a : security against hurt, loss, or damage. b : exemption from incurred penalties or liabilities.
Letters of indemnity should include the names and addresses of both parties involved, plus the name and affiliation of the third party. Detailed descriptions of the items and intentions are also required, as are the signatures of the parties and the date of the contract's execution.
An indemnity agreement is a contract that protect one party of a transaction from the risks or liabilities created by the other party of the transaction. Hold harmless agreement, no-fault agreement, release of liability, or waiver of liability are other terms for an indemnity agreement.200c
To indemnify something basically means to make good a loss. In other words, it means that one party will compensate the other in case it suffers some losses. For example, A promises to deliver certain goods to B for Rs. 2,000 every month.
$20/Month. The cost of professional indemnity insurance varies considerably. While these policies are extremely common, and typically inexpensive for most industries, the cost can increase significantly for specialized services with much higher risks.
An environmental indemnity mitigates a lender's exposure for environmental risks that are associated with real property ownership by indemnifying the lender against all losses associated with environmental compliance, monitoring, and remediations (see Drafting Note, Losses).
For example, in the case of home insurance, the homeowner pays insurance premiums to the insurance company in exchange for the assurance that the homeowner will be indemnified if the house sustains damage from fire, natural disasters, or other perils specified in the insurance agreement.
A contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself, or by the conduct of any other person, is called a contract of indemnity.