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.
South Dakota Contractor Indemnification
Category:
State:
Multi-State
Control #:
US-CGMCA-19
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Contractor Indemnification?
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FAQ
An indemnification clause is a legally binding agreement between two parties specifying that one party (the indemnifying party) will compensate the other party (the indemnified party) for any losses or damages that may arise from a particular event or circumstance.
Contractor shall be responsible for all damages to persons or property that occurs as a result of the negligence or fault of Contractor in connection with the prosecution of the Work.
'The Contractor shall indemnify and hold harmless the Owner from all costs, claims, damages, expenses, losses, liabilities and penalties? of every kind and nature resulting from personal injury to any person employed by the Contractor arising directly or indirectly out of or in connection with the performance of the ...
The Contractor shall assume full liability for any damages to any public property or private property that is due to the negligence of the Contractor, its Subcontractors, agents, permittees or assigns in the performance of this Agreement.
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 limitation of liability clause is a clause in a contract that restricts a company's financial exposure in the event of a lawsuit or another claim. A limitation of liability clause, if found to be enforceable, can ?cap? the number of potential damages incurred.
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.
Independent Contractor will be responsible for any and all losses, liabilities, damages, injuries, claims, charges and costs, whether tangible or intangible (collectively, the ?Losses?), to persons or property that in any way arise out of or relate to the performance of the Services whether performed by Independent ...