Indemnity Agreement

An Indemnity Agreement is used to ensure one party is absolved of fault or protected against liability claims.

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Whether it's a place of employment or lending a car to somebody, you can use an Indemnity Agreement to protect yourself or your company from being liable for things outside of your control.

What Is an Indemnity Agreement?

Also known as the Hold Harmless Agreement, the Indemnity Agreement is used to indemnity against the indemnifier's actions. For one, an employer may require all employees to sign an Indemnity Agreement to disavow any liabilities from the employees' activities.

However, it is essential to note that one party cannot use the Indemnity Agreement to cover up negligence on behalf of the indemnitee. If an employer is to supply faulty equipment, an Indemnity Agreement will not hold up as it would likely be adjudicated invalid.

Other Names for Indemnity Agreement

Depending on your state, an Indemnity Agreement may also be known as:

  • Hold Harmless Agreement
  • No-Fault Agreement
  • Assignment of Indemnity
  • Indemnification Agreement
  • Reparation Agreement

Who Needs an Indemnity Agreement?

Companies hiring independent contractors are known to make heavy use of Indemnity Agreements. In your personal life, if you are to lend your property to someone else, executing an Indemnity Agreement ensures that the other person alone is liable if your property is used or operated in such a way as to cause harm to others.

Why Use 360 Legal Forms for Your Indemnity Agreement?

Customized for you, by you

Create your own documents by answering our easy-to-understand questionnaires to get exactly what you need out of your Indemnity Agreement.

Specific to Your Jurisdiction

Laws vary by location. Each document on 360 Legal Forms is customized for your state.

Fast and easy

All you have to do is fill out a simple questionnaire, print, and sign. No printer? No worries. You and other parties can even sign online.

How to Create an Indemnity Agreement with 360 Legal Forms

Indemnity Agreements might be standard in the business world, but you can rely on 360 Legal Forms if you have never created one.

Let 360 Legal Forms help with our extensive library of attorney-vetted legal forms. The process is fast and easy. All you have to do is fill out our easy-to-understand questionnaire. Once complete, simply download your form as a PDF or Word document from your secure online account.

What Information Will I Need to Create My Indemnity Agreement?

To create your document, please provide:

  • Indemnitee Details: The legal name of the person or company seeking indemnification.
  • Indemnifier Details: The legal name of the person or company giving indemnification.
  • The Effective Date: The date when the agreement goes into effect.
  • Indemnified Actions: Describe the actions considered indemnified.
  • Terms of Indemnity: Supply the terms of the indemnity that protects one party.
  • Other Terms: Specify the governing law and validity terms.
  • Witness: The legal name and contact information of the witness to the signatures.
  • Signatures: Both parties are to sign the agreement in the presence of a witness.

Indemnity Agreement Terms

  • Indemnification: Protection from legal responsibility.
  • Indemnitee: A company or individual asking for protection.
  • Indemnifier: A company or individual providing legal protection.
  • Liability: The quality of being liable or responsible.
  • Claim: In the context of an Indemnity Agreement, this refers to a legal claim or defense against it.
  • Waiver: The surrender of a right.
  • Assignment: A legal transfer of ownership or responsibility.
  • Severability: The quality of a document, such as an agreement or a lawmakers' bill, being valid even when some parts or provisions are struck out (valid without the severed parts or requirements).

Indemnity Agreement Signing Requirements

The indemnitee and indemnifier sign the Indemnity Agreement in the presence of a witness whose name and signatures are noted. Notarization is not required, though you may want to confirm with your state or county.

What to Do with Your Indemnity Agreement?

After generating your Indemnity Agreement on 360 Legal Forms, print out a copy and follow the signature requirements outlined above. Distribute a copy to all parties involved.

Frequently Asked Questions

Indemnity Agreements are categorized according to the extent. The broad indemnity is the most extensive where the indemnifier assumes absolute risk and responsibility. The intermediate indemnity, also the most common, absolves the indemnifier of liabilities in the event that the indemnitee is solely to blame. Finally, the limited indemnity is the least secure for the indemnitee.

Technically, yes. But the best practice is to ask someone who has no interest in the arrangement, perhaps even someone who only has a passing knowledge of the nature of the agreement. The person only has to confirm that both parties are entering into the agreement willingly without duress or deception.

Not exactly. The waiver of liability is signed by one party who is willingly giving up a specific legal right that he or she is entitled to. By contrast, the Indemnity Agreement is entered into between two parties with the purpose of protecting one party while the other is to resume full or partial liability for potential outcomes.

Yes, there can be more than one indemnifier of joint and several liabilities. When there is more than one indemnifier, all of them will be equally liable for whatever is owed according to the agreement. If one of the indemnifiers is unable to pay damages, the remaining indemnifiers will shoulder the responsibility evenly.

In most cases, it is unnecessary to involve an attorney. However, there are instances where the expertise of an attorney might come in handy, such as if the liability is of a consequential nature.

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Applicable to all 50 states
Applicable to all 50 states

Our documents are vetted by lawyers and are applicable to all 50 states.