A hold harmless agreement template is a contract between parties that allows one party to protect another party against any future losses or claims. Hold harmless agreement is common in construction projects. A professional designed hold harmless agreement sample can help both the contractor and insure potential risks from subcontractor.
Hold Harmless Agreement Format
Hold harmless agreement can take various forms depending on your construction industry. Basically, there are three forms: the broad form, the intermediate form and limited form. Broad forms means that the subcontractor assume all related liabilities for potential accidents; inter meditate form means that the subcontractor is only responsible for his one neglects and liabilities; the limited form means that the subcontractor will take responsibilities for the accidents or negligence bot on a limited form. The subcontractor need to consider the pros and cons of the three forms before signing the agreement.
Hold harmless agreement needs to have specific provisions on the protection of related parties. The agreement must include provisions to neglect any kind of claims, damages, losses, expenses or any other cause of action to the contractor. By signing the hold harmless agreement, the construction company basically chooses to undertake all the losses that may arise during the process of construction.
Hold Harmless Agreement Template
There are free agreement template you can download for reference, however, you may create your own sample agreement for your own needs, in the process of drafting your own sample holder harmless agreement, you need to consider the key elements.
The first key part in hold harmless agreement template is the information about parties. For example, the promisor name: _____; Promisor business type:___; Promisee name___; Promisor business type:__. You may include statement: Promisor will indemnify and hold harmless Promisee from any and all claims, actions, and judgments, including all costs of defense and attorney’s fees incurred in defending against same, arising from Promisor’s performance of _____ .
The second key part in hold harmless agreement sample is about project or activities information. In the section, you need to give background information to help put the contract’s terms into context. For example, Promisor is negotiating with Promisee to_____ (project background information). The intent of this Agreement is to indemnify Promisee from any claims resulting from _______(state the purpose of contract).
The last key part in hold harmless agreement sample is the details of agreement terms and conditions. In the section, you will describe exactly what event or events Promisor will indemnify Promisee against. For example, promisor will indemnify and hold harmless Promisee from any claims arising from ____(state the terms and conditions).