Indemnity Agreement PALMETTO SURETY CORPORATION Form

Instructions and help about Indemnity Agreement PALMETTO SURETY CORPORATION

understanding an Indemnity agreement let's break down what an Indemnity agreement is indemnity is protection against a loss so an Indemnity agreement is a contract that protects one party of a transaction from the risks or liabilities created by the other party for example if you run a skydiving business the business may have you the participant sign an Indemnity against third party CL claims to not be held liable if injury were to occur it protects the business from liability in the case of a Shorty Bond the principal would make the shorty company whole in the case of a loss Indemnity Agreements are complex business contracts we advise approaching them carefully to ensure you get the intended protection there are three types of Indemnity agreements listed here each is classified on the degree of protection they offer the indemnified party there are also certain terms that an agreement should contain such as specific state laws that will govern the agreement it needs an indemnification