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Indemnity Agreement

A contract that protects one party of a transaction from the risks or liabilities created by the other party of the transaction.

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Indemnity Agreement: Protect Against Risk and Liability

An Indemnity Agreement is a legally binding contract that protects one party from financial loss or legal responsibility resulting from the actions or omissions of another party. Creating this agreement with Bind ensures both parties have clear terms and risk protections in place.

Parties and Purpose
Identifies the indemnitor and indemnitee and outlines the context in which indemnity is being provided.

Scope of Indemnity
Covers claims, losses, or liabilities caused by breach of contract, negligence, or third-party actions related to the indemnitor.

Limitations and Exclusions
Specifies financial caps and clarifies exclusions such as indirect or punitive damages.

Claim Procedure
Outlines steps for notifying, assisting with, and managing indemnity claims, including timelines.

Payment Terms
Requires prompt reimbursement for losses and provides procedures for handling disputes.

Duration and Survival
States how long the indemnity obligation lasts, including post-termination protection for prior claims.

Governing Law
Specifies that the agreement is governed by the laws of England and Wales.

With Bind, you can eSign the Indemnity Agreement and request the other party’s signature right after creation. This gives both parties legal clarity and reduces future disputes.

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