Hold Harmless Agreement Hide EU Currency Field For Free

The clause will need to note who will be held harmless, and who will be providing the protection. You'll also need to describe the category of the services offered to the signee. As well as all the reasons that the signee will hold the contracting party harmless.

The (name of the other party) agrees to defend, indemnify and save the (name of the healthcare organization) harmless from all loss, cost, expense, judgment or damage on account of injury to persons including death or damage to property, in any way caused by the negligence of the (other party), its servants, agents, or ...

Three basic types of Hold Harmless Agreements are used: limited, intermediate, and broad. These forms are often seen in contracts in the construction industry.

In practice, a hold harmless and an indemnity are functionally equivalent in that both require a party to assume responsibility for losses incurred by another party in connection with certain acts and circumstances. Some argue that while an indemnity shifts losses, a hold harmless shifts both losses and liability.

Indemnification assures that one party will insulate another party from loss or damages. Indemnity protects against losses while hold harmless clauses protect against both losses and liabilities. An indemnification and hold harmless agreement includes both terms for maximum protection.

Hold Harmless Agreement: 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.

The main difference in this case is that ?hold harmless? may require a party to protect against actual losses as well as potential losses while indemnification protects against actual losses only. Certain states, including Ohio, Colorado, Louisiana and Delaware, hold that ?indemnify? and ?hold harmless? are synonymous.