Indemnity agreements generally help take away the liabilities of a company when its shares are passed over to some other company or individual. Similarly, in a lease contract, the agreement indemnifies the owner. It often happens that certain activities involve threats, but the giver of the activity does not assure safety, instead, it becomes the sole responsibility of the involved individual or company. It is thus a contract wherein the owner organization or individual shrugs off responsibilities or liabilities of risks incurred by the receiver of the services or products even.
The structure of an indemnity agreement can be really complex, since it involves a number of legal jargons that are often hard for the layman to crack. However, these are extremely important documents and should thus be prepared as well as maintained carefully. Hence, it is always advisable to take help from legal experts in framing this type of an agreement. There are certain issues and points that should necessarily be included in an indemnity agreement, such as:
Indemnity agreements have a wide range of applications and should thus be prepared in a way that they apply to the respective situations. Hence, although a general format may be presented, the document should be adopted respective to the purpose.