North Carolina Form of Indemnity Agreement by Financial Corporation of Santa Barbara

State:
Multi-State
Control #:
US-CC-17-104M
Format:
Word; 
Rich Text
Instant download

Description

17-104M 17-104M . . . Indemnification Agreement authorizing (a) corporation to enter into Indemnity Agreements with each of its directors and officers and directors and officers of its first-tier subsidiaries and (b) establishment of Directors and Officers Indemnity Trust to (i) provide source of funds to secure corporation's obligations under Indemnity Agreements authorized under (a) above to directors and officers of corporation and its first-tier subsidiaries and (ii) advance expenses incurred by them in defense of actions, claims and proceedings against them relating to actions taken in their capacities as directors or officers
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  • Preview Form of Indemnity Agreement by Financial Corporation of Santa Barbara
  • Preview Form of Indemnity Agreement by Financial Corporation of Santa Barbara
  • Preview Form of Indemnity Agreement by Financial Corporation of Santa Barbara
  • Preview Form of Indemnity Agreement by Financial Corporation of Santa Barbara
  • Preview Form of Indemnity Agreement by Financial Corporation of Santa Barbara
  • Preview Form of Indemnity Agreement by Financial Corporation of Santa Barbara
  • Preview Form of Indemnity Agreement by Financial Corporation of Santa Barbara
  • Preview Form of Indemnity Agreement by Financial Corporation of Santa Barbara
  • Preview Form of Indemnity Agreement by Financial Corporation of Santa Barbara

How to fill out Form Of Indemnity Agreement By Financial Corporation Of Santa Barbara?

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FAQ

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.

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.

How to fill a Letter of Indemnity? A letter of indemnity must include the following key details:- The names and addresses of both parties involved. The name and affiliation of the third party. Detailed descriptions of the items being shipped. Signatures of the parties. Date of execution of the contract.

It is primarily intended to protect the person who is providing goods or services from being held legally liable for the consequences of actions taken or not taken in providing that service to the person who signs the form. Indemnity clauses vary widely.

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.

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 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.

An LOI must clearly list all of the parties involved (shipper, carrier and when applicable, consignee or recipient) and should include as much detail as possible (i.e. vessel name, ports of origin and destination, description of goods, container number, specifics from the original bill of lading, etc.).

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North Carolina Form of Indemnity Agreement by Financial Corporation of Santa Barbara