Hold harmless and indemnity agreement
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.
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- Plain English makes editing easy
- Guidance notes included
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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;
- Comprehensive provisions provide ideas;
- Real law in simple English;
- Registration and stamp requirements defined.
- Representations of the parties;
- Appropriate legal provisions - warranties, exclusions, indemnities;
- Restrictive covenants.
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