Form Agreement Technology

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.

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.

Indemnity is a contractual agreement between two parties, which outlines a form of insurance compensation for any damages and losses.For instance, in the case of home insurance, homeowners pay insurance to an insurance company in return for the homeowners being indemnified if the worst were to happen.

A typical example is an insurance company wherein the insurer or indemnitor agrees to compensate the insured or indemnitee for any damages or losses he/she may incur during a period of time.

Indemnity is defined by Black's Law Dictionary as a duty to make good any loss, damage, or liability incurred by another. Indemnity has a general meaning of holding one harmless; that is to say, that one party holds the other harmless for some loss or damage.

An indemnity agreement is a contract that 'holds a business or company harmless' for any burden, loss, or damage. An indemnity agreement also ensures proper compensation is available for such loss or damage.

Company/Business/Individual Name shall fully indemnify, hold harmless and defend _______ and its directors, officers, employees, agents, stockholders and Affiliates from and against all claims, demands, actions, suits, damages, liabilities, losses, settlements, judgments, costs and expenses (including but not

Indemnity is compensation paid by one party to another to cover damages, injury or losses.An example of an indemnity would be an insurance contract, where the insurer agrees to compensate for any damages that the entity protected by the insurer experiences.