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Indemnity Agreement

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Release, Waiver of Liability, Assumption of Risk, and Indemnity Agreement Regarding Race or Event Involving ATV, Motorcycle, Motocross, and/or 4x4 Off-Road Vehicles

This Release, Waiver of Liability, Assumption of Risk and Indemnity Agreement (“Release”) is given this

day of , 20 , from

in favor of and to

by

hereinafter referred to as “Participant.”

Participant is:

is the Legal Guardian for the above.

For and in consideration of being permitted to compete in

hereinafter called “Event,” and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Participant

hereby releases, waives and discharges

its

hereinafter referred to as “Releasees,” and each of them, from all liability to the Participant, his/her spouse, legal representatives, heirs and assigns, for any and all loss or damage, and any claim or damages resulting therefrom, on account of injury to Participant’s person or property, even injury resulting in death of Participant, whether caused by the negligence of Releasees while the Participant is

in Event.

Participant agrees to indemnify the Releasees and hold them harmless from any loss, liability, damage or cost they may incur due to the participation of Participant in Event, whether caused by the negligence of the Releasees or otherwise.

Participant hereby assumes full responsibility for the risk of bodily injury, death or property damage or otherwise while in or upon

and while competing, officiating in, working for or any other purpose regarding participating in Event.

Participant hereby acknowledges that the activities of the Event are very dangerous and involve the risk of serious injury and or property damage. Participant also expressly acknowledges that injuries received may be compounded or increased by negligent rescue operations or procedures of the Releasees. Participant hereby agrees that this Release extends to all acts of negligence by the Releasees, including, but not limited to, negligent rescue operations and is intended to be as broad and inclusive as is permitted by the laws of the state of

and that if any portion of the Release is held invalid, it is agreed that the balance shall, notwithstanding, continue in full legal force and effect.

This Release constitutes the sole and only agreement of Participant and

and supersedes any prior understandings or written or oral agreement respecting the subject matter of this Release.

I have carefully read this agreement and fully understand its contents. I am aware that this is a release of liability and a contract between myself and

and I have signed it of my own free will.

Witness my signature, as of the day and date first above named.

Participant

Guardian (if applicable)

Enter text✕

What an Indemnity Agreement Is and When It Applies

An Indemnity Agreement is a legally binding contract in which one party (the indemnitor) promises to compensate another party (the indemnitee) for specified losses, claims, liabilities, or expenses arising from defined events. Commonly used in commercial transactions, mergers, professional services, and construction, the agreement allocates financial risk and sets procedures for claims, defense, and settlement. Typical provisions address scope of indemnity, limitations, exclusions, notice and defense obligations, recovery procedures, and any caps or indemnity periods. Properly drafted indemnity clauses reduce litigation risk and clarify post-loss responsibilities between contracting parties.

Why a Clear Indemnity Agreement Matters

An Indemnity Agreement shifts financial responsibility for third-party claims, clarifies defense duties, and preserves contractual predictability, helping parties allocate litigation costs and loss exposure. It supports risk management and insurance coordination when tailored to the transaction's scope and applicable law.

Why a Clear Indemnity Agreement Matters

Common Parties and Use Cases

Typical users include in-house counsel, contracting parties, insurers, and third-party service providers who need clear risk allocation.

  • Contracting businesses that want to limit exposure to vendor or subcontractor claims.
  • Professional service firms seeking client indemnities for negligence or third-party claims.
  • Landlords and tenants allocating liability for property damage, environmental, or third-party suits.

Use tailored indemnities where parties have unequal bargaining power or when insurance and defense obligations must be explicit.

Who Signs and Why

General Counsel

Corporate legal officers review indemnity clauses to align with company risk tolerance, insurance coverage, and regulatory obligations, ensuring limitations, exclusions, and defense control provisions protect corporate assets while maintaining enforceability under applicable state contract law.

Independent Contractor

Independent contractors and vendors require indemnity protection against claims arising from their work, negotiating caps, time limits, and insurance requirements to prevent open-ended liability while preserving business continuity and client relationships.

Essential Information to Include

Effective Date: MM/DD/YYYY format; start of obligations
Parties: Full legal names and entity type
Scope of Indemnity: Specify covered claims and exclusions
Limitations: Caps, monetary limits, or carve-outs
Notice Requirements: Time window and delivery method
Governing Law: State selected for contract interpretation

Key Risks if the Agreement Is Incorrect

Unenforceable Indemnity: Ambiguous terms may be voided
Open-Ended Liability: Unlimited exposure without caps
Insurance Gap: Coverage may not match indemnity
Statutory Noncompliance: Violates state or federal rules
Late or Missing Notice: May forfeit indemnity rights
Defense Control Disputes: Conflicts over counsel selection

Common Preparation Mistakes to Avoid

  • Using broad catch-all language that fails to identify specific covered claims and triggers, creating ambiguity over scope and intent.
  • Failing to align indemnity obligations with insurance policy terms, which can produce uninsured liabilities or coverage denials.
  • Omitting clear notice and claim handling procedures, resulting in disputes over timeliness, defense responsibilities, and settlement authority.
  • Neglecting governing law or jurisdiction clauses, which can lead to unexpected procedural rules and enforcement issues.

How to Complete an Indemnity Agreement

Follow these steps to complete and execute an Indemnity Agreement accurately and defensibly online or in paper form.

  • 01
    Identify Parties: Enter full legal names and entity types.
  • 02
    Define Scope: Describe covered claims, triggers, and exclusions.
  • 03
    Allocate Defense: Specify defense obligations and who controls counsel.
  • 04
    Sign and Date: All parties sign; include signature dates.

Where to File or Send the Executed Agreement

Determine the recipient, delivery method, and required filings when submitting an executed Indemnity Agreement to counterparties or filing offices.

  • To Counterparty: Send original or certified copy as agreed.
  • Insurance Carrier: Provide to insurer for coverage confirmation.
  • Court Filings: Attach only when required by litigation or filing.
  • Recordkeeping: Keep executed originals per retention policy.

Configuring a Digital Workflow for Completion

Configure a digital workflow for editing, approving, and e-signing the Indemnity Agreement securely with conditional fields and audit trails.

Field Configuration
Signature Field Require signer name, date, and typed signature.
Conditional Clause Show indemnity cap only if checkbox selected.
Authentication Use email + SMS code or KBA.
Retention Store signed PDF and audit trail securely.

Digital Signing and Secure Submission

Select a platform that supports secure eSignature, audit trails, and retention for indemnity documentation.

  • File Formats: PDF, Word DOCX supported
  • Integrations: Works with Salesforce and NetSuite
  • Authentication: Email, SMS, or KBA options

Real-World Use Examples

Two consolidated examples show how organizations use digital execution to manage indemnity clauses across industries.

Martin Properties (Real Estate)

Local property manager needed remote execution for lease indemnities

  • Used mobile signing for onsite closings
  • "I can process and execute all of these documents online with 100% compliance and built-in security. Whether on mobile or working offline, I can get forms back to their necessary parties efficiently."

Xerox (Operations)

Enterprise operations team standardized indemnity templates across NetSuite integration

  • Saved review time and ensured consistent clauses
  • "airSlate SignNow provides us with the flexibility needed to get the right signatures on the right documents, in the right formats, based on our integration with NetSuite."

Timelines, Deadlines, and Typical Processing Times

Track effective dates, notice windows, and defense deadlines carefully to preserve indemnity rights and insurer coordination.

Effective Date:

The date obligations begin; use MM/DD/YYYY format

Notice of Claim:

Often 30–90 days to report a claim to trigger indemnity

Defense Election Deadline:

Specify timeframe for choosing counsel and contesting indemnity applicability

Indemnity Period:

State the period during which claims are covered

Record Retention:

Retain the agreement per retention timeline and legal requirements

Frequently Asked Questions About Indemnity Agreements

Answers to common execution, enforceability, and electronic signature questions to help avoid pitfalls and preserve rights.


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