10 Free Sample Indemnity Agreement Templates

If we explain the word indemnity, it means holding someone harmless but in broader terms, indemnity means to put blame on someone specific or don’t put blame on a specific person. This term is mostly used in liability claims and insurance procedures.

Introduction to Indemnity Agreement:

Indemnity agreement is written when a person wants the other party not to hold him responsible in case of a liability. You can understand this agreement by assuming that you are landlord and when a new tenant moves into your building, you ask him to sign the indemnity agreement. This will help you in the situation of a liability caused by the building to the tenant i.e. injury due to slip on the stairs. This way if the tenant injures himself after falling from the stairs, he can’t hold you responsible after signing the indemnity agreement. With this example, you can understand that once you sign this agreement, you certainly give away some of your rights and with this agreement, you can’t challenge or sue the other party as you have signed and stated not to hold them responsible in case of a damage or personal injury.

Other than landlords, this agreement is used in many different places i.e. in amusement parks when you want to ride a dangerous ride; you buy a ticket on which the authorities state that they will not take responsibility in case of an accident or injury. In the same manner, when you want to try extreme sports i.e. skydiving, skiing or Para-sailing, you have to sign an agreement before taking part in the activity so that if you injure or kill yourself during the act, you or your family members can’t hold the organizer responsible and liable for your injuries.

Useful Tips for creating an Indemnity Agreement:

Brief introduction to the parties involved in the Agreement:
This is the most important part and first section of the indemnity agreement. This part should include the names of the parties that are involved in the deal including the promisor and promisee or indemnitor and indemnitee. This also includes their full names, residential addresses and contact numbers.
Explanation of the key reasons for writing this agreement:
This section should include the key purpose and reasons for creating this agreement i.e. in case of landlord and tenant situation, the key reason of creating this agreement is to clarify that the tenant will not hold the landlord responsible if he injures himself while living in the building.
Introduction to the third parties that might be involved:
If there are any third parties involved in the agreement either directly or indirectly, you need to introduce them in this section with their full names, addresses and contact numbers.
Commitment or indemnification section:
This is the most important part of this agreement. In this part, the person who is signing the agreement states or makes a commitment that in case of a personal injury or damage of any kind, he will not hold the undersigned person responsible or liable and won’t claim any kind of compensation from him.
Signature of the parties involved:
This is the last section in which the involved parties i.e. indemnitor, indemnitee and the witnesses are asked to sign the agreement and make it legal and authorized.