Missouri Indemnification Agreement by Witco Corporation
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How to fill out Indemnification Agreement By Witco Corporation?
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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.
A director and officer indemnification agreement is a contract that allows executives to protect themselves from claims made against them while performing job.
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.
Indemnification Expenses means any and all costs, losses, claims, damages or liabilities, joint or several, including without limitation, reasonable attorney's fees and disbursements paid by the Master Fund to Grosvenor pursuant to Section 12 of the Advisory Agreement.
When it comes to car insurance, indemnity means that your insurer, like The Hartford, helps cover costs you're required to pay following an accident. Your auto insurance company indemnifies you from losses by shifting financial responsibility.
An indemnity agreement is a contract that protects one party of a transaction from the risks or liabilities created by the other party of the transaction.
?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.
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.