This is a Contractor Indemnification form, to be used across the United States. It is used to protect yourself against lawsuits by a Contractor's Employees.
Oklahoma Contractor Indemnification
Category:
State:
Multi-State
Control #:
US-CGMCA-19
Format:
Word;
Rich Text
Instant download
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How to fill out Contractor Indemnification?
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FAQ
Indemnity is a type of insurance compensation paid for damage or loss. When the term is used in the legal sense, it also may refer to an exemption from liability for damage. Indemnity is a contractual agreement between two parties in which one party agrees to pay for potential losses or damage caused by another party.
Oklahoma law provides the term in the construction agreement requiring the contractor to indemnify the owner for death or bodily injury to persons and property damage arising out of the owner's own negligence or fault "void and unenforceable." It is found in Okla. Stat.
Indemnity being a 'hold harmless' agreement This clause absolves the manufacturing company of losses in case one of the contractor's personnel gets injured while using the crane. The contractor here indemnifies the manufacturer.
Are indemnification clauses enforceable? Indemnification clauses are generally enforceable, but there are important qualifications. Some courts hold that broad form or ?no fault? indemnifications, which are blind to fault on the part of either party, violate public policy.
Thus, it is critical for every contractor to understand the meaning of indemnification before executing a contract. An indemnification provision is a contractual provision under which one party (the indemnitor) agrees to assume liability for the losses incurred by another party (the indemnitee).
A corporation shall have power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative, other than an action by or in the right of the corporation, by reason of the ...
?Consultant agrees to indemnify the Client against all damages? caused by the Consultant's negligent performance of professional services? Client agrees to indemnify the Consultant against all damages? caused by the Client's negligent acts.
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.
