This is an indemnity agreement between any two individuals
or businesses. The agreement seeks to absolve one party
from any liability or risk caused by the other party. Put
another way, an indemnity agreement governs who pays for
damage or loss.
About this document
This document is required where parties enter into an arrangement and one of them helps the other to secure a loan from the bank over the property being sold. The ‘other’ withdraws from the arrangement and the loan arrangement is subrogated. This agreement safeguards the interests of both the parties against any action by the bank or any other entity / authority.
Application
and features
Ready for adaptation to particular needs of either or both parties;
This document has been drawn by Rakesh Taneja, unconnected with Net Lawman. Rakesh Taneja will welcome your contact for further legal help. There may be a charge for Rakesh Taneja services.
