New York Form of Indemnification Agreement by Southwest Gas
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How to fill out Form Of Indemnification Agreement By Southwest Gas?
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FAQ
The indemnification clause is a crucial element in commercial contracts as it helps mitigate the risks and consequences associated with potential breaches of contracts. This clause also ensures that the parties are fairly compensated for their losses and helps maintain a stable and predictable business relationship.
Indemnification of employee clause samples Employer shall indemnify Employee and hold him harmless for lawful acts or decisions made by him in good faith while performing his duties for Employer, its parent, subsidiaries and affiliates to the full extent allowed by law.
Under a typical indemnification provision, the employer agrees to indemnify the executive against lawsuits, claims, or demands against the employee resulting from the employee's good faith performance of his or her duties and obligations.
An indemnity agreement, also called a hold harmless agreement or waiver of liability, is a type of insurance contract that states that one party will pay for damages or other expenses for another party.
What is indemnification? 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.