New Jersey Indemnity Agreement of Telocity, Inc.
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How to fill out Indemnity Agreement Of Telocity, Inc.?
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FAQ
As the defendant's ?indemnitor,? you will accept full responsibility for the entire ?face amount? of the bond should the defendant not return to court. This includes paying for the entire premium or any other fees associated with the bond.
To indemnify, also known as indemnity or indemnification, means compensating a person for damages or losses they have incurred or will incur related to a specified accident, incident, or event.
An agreement whereby the first party (the indemnitor) agrees to hold a second party (the indemnitee) harmless from tort liability arising out of the indemnitor's negligent act or omission.
An indemnity bond is a surety bond that creates a financial contract between two parties. Indemnity bonds are designed to ensure that if one party doesn't uphold their obligations, the other party can seek a remedy. In a sense, an indemnity bond is similar to an insurance policy.
Indemnity Agreement: Although similar to a hold harmless agreement, an indemnity agreement is an arrangement whereby one party agrees to pay the other party for any damages regardless of who is at fault.
Indemnity Agreement: Although similar to a hold harmless agreement, an indemnity agreement is an arrangement whereby one party agrees to pay the other party for any damages regardless of who is at fault.
Indemnification, also referred to as indemnity, is an undertaking by one party (the indemnifying party) to compensate the other party (the indemnified party) for certain costs and expenses, typically stemming from third-party claims.
Indemnity clauses are written into contracts to allow an indemnifier to take on any losses incurred by a party in the contract. They can also be used to absolve the indemnifier or the other party of liability if a breach of contract occurs, or damages/loss of goods are incurred.
What is an indemnity agreement for surety? Generally speaking, the indemnity provision in the agreement grants the surety the broad legal right to recover from the indemnitor whatever it pays on the principal's behalf under the related bonds, as well as those amounts for which it remains liable.
To indemnify means that the seller will reimburse the buyer for a loss or liability. To defend means that the seller will pay the buyer's legal fees for suits that arise from specific risks articulated in the contract.
