This form provides boilerplate contract clauses that outline means of securing the funds for payment of any indemnity, including use of an escrow fund or set-offs.
New Hampshire Indemnity Provisions — Means of Securing the Payment of thIndemnityty provisions in New Hampshire serve as a crucial component in various agreements, contracts, and insurance policies. These provisions aim to protect parties from potential losses, damages, or liabilities arising from certain events, actions, or omissions. The indemnity provision ensures that if one party incurs any such losses or liabilities, the other party will compensate them appropriately. In New Hampshire, there are different types of indemnity provisions available to secure the payment of indemnity, including: 1. Standard Indemnity Provisions: These provisions detail the obligations and responsibilities of each party towards indemnifying the other in case of a loss, claim, or liability. They specify the scope, timeframe, and limits of indemnification, ensuring both parties are aware of their commitments. 2. Broad Form Indemnity Provisions: These provisions provide extensive coverage to the indemnified party. They often encompass all potential risks, regardless of whether they occurred due to the indemnified party's negligence or not. Broad form indemnity provisions may be subject to specific regulations to ensure fairness. 3. Limited or Intermediate Indemnity Provisions: These provisions limit the indemnity obligation to losses or liabilities caused by the indemnifying party's negligence or intentional misconduct. They typically exclude indemnification for losses that arise from the indemnified party's own negligence or wrongdoing, resulting in a shared responsibility for certain risks. 4. Comparative Indemnity Provisions: These provisions allocate indemnity based on the comparative fault or negligence of the parties involved. If both parties contributed to the loss or liability, the indemnity payment is divided proportionally, reflecting the degree of fault assigned to each party. 5. Contractual Indemnity Provisions: These provisions are included in contracts between parties to govern the indemnification process. They outline the terms, conditions, and requirements for indemnity, ensuring that both parties have a clear understanding of their obligations. Contractual indemnity provisions may provide additional protection or impose certain limitations compared to statutory provisions. New Hampshire indemnity provisions serve to secure the payment of indemnity by establishing a legally binding agreement between parties involved in various transactions, agreements, or partnerships. These provisions help mitigate risks, ensure compensation for losses or damages, and provide a sense of security and fairness to all parties involved.
