Indemnity Agreement Form

An Indemnity Agreement Form is a legally binding promise given by one party to indemnify or release another from any claims, actions, losses or liabilities in respect of a particular event or transaction.  In effect, one party agrees to accept the risk of loss or damage on behalf of another.

It can be used in a variety of situations, including:-

• Where one party is accepting a sum of money in full and final payment and releases the other party from any other claims, loss or damage;
• To indemnify an event holder or venue holder for any loss or damage that may occur at a particular function or event, such as wedding venue, horse riding or bungee jumping;
• As a clause within a broader contractual agreement where one party indemnifies the other against any loss or damage suffered;
• Where a contractor or consultant is performing work for another;
• Insurance contracts, which rely on indemnities to shift the financial responsibility for a particular situation to the insurer.