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.
Tennessee 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
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).
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.
In most contracts, an indemnification clause serves to compensate a party for harm or loss arising in connection with the other party's actions or failure to act. The intent is to shift liability away from one party, and on to the indemnifying party.
Recipient shall be liable for any damages resulting from any use or application of the Biological Material(s) and other related materials, and shall defend, hold harmless and indemnify University, System, their Regents, officers, employees and agents, against any and all claims, suits, actions, costs, counsel fees, ...
Many clients insist on unilateral indemnification clauses, basically putting all potential liability solely on a contractor's shoulders. The latter should insist on a mutual indemnification clause, where both parties are responsible for liabilities that arise out of their own fault.
Indemnification clauses are exceedingly common in many contracts, but what you should pay close attention to is the scope of your indemnification agreement. Generally, you should only agree to pay for losses arising from your own actions and not the other party's actions.
The Subcontractor agrees to save the General Contractor free and harmless of and from any loss or liability except that caused solely by the General Contractor's negligence of any nature whatsoever.
Indemnification clauses appear in nearly all commercial agreements. They are an essential risk allocation tool between the parties, and as such, they are one of the most commonly and heavily negotiated provisions in a contract.
