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A hold harmless agreement protects business owners from being sued when someone suffers damage, bodily injury, or financial loss on business property or while a service is being provided.

A Hold-Harmless Agreement (also known as an Indemnity Agreement) allows one party to protect another party against any future losses or claims that may result from a particular activity.

Once the hold harmless agreement has been completed, simply have all parties sign and date to complete the document. Although not required, it is always a good idea to have the document notarized for extra protection.

A hold harmless disclosure is used when one party agrees not to hold the other party liable for any damage or injuries it suffers as a result of engaging in particular activities. A hold harmless agreement is usually instituted between buyers and sellers. They could also be between a buyer, seller, and a closing agent.

An apartment lease may have a hold harmless clause stating that the landlord is not responsible for any damage caused by the tenant. A homeowner hiring a roofer might request a hold harmless clause to protect against a lawsuit if the roofer falls off the roof.

A hold harmless agreement included within a contract grants the party providing the service the right to be free from liability. A waiver of subrogation causes one to give up the right to allow an insurance company to step into the position of the contractual party to recover damages.

Hold Harmless Agreement vs. A Hold Harmless Agreement obligates one party of an agreement not to hold the other party legally responsible for any danger, injury, or damage. Essentially, one party is held free from liability in the case of an accident or damage.