Unlock the Power of eSignature Legality for Hold Harmless

How to eSign a document: e-signature legality for Hold Harmless

hello everyone welcome to this insurance education channel my name is raymond macmillan and in today's video is a very short video we'll be talking about a clause called hold harmless these clauses are usually found in contrast let's take for example a building contractor he has a principle he won the contract and he's off to his insurance company to get some cover as is required by most of these contracts the underwriter needs to check the terms of the contract carefully to make sure that such a clause doesn't exist guess why if there's a clause like that in the contract and the principle they are responsible for the loss or damage the insurer would not be able to after they've paid their client under their policy they have a right under it's called subrogation to recover from the negligent party because of the existence of that whole harmless clause the insurer would be debarred from recovery can you see the predicament also it is not to be a building contractor but any supplier that you're dealing with that you as a business person dealing with check to keep the clauses carefully in the contract terms to make sure there isn't such a clause existing I hope this is helpful to at least one person if you like what you just heard I just take the like button and why not subscribe to our channel we'd be grateful thank you ladies and gentlemen for your time