Indemnity Agreement Form printable pdf download

INDEMNITY AGREEMENT

For the sum of $__ and other good and sufficient consideration, the

receipt of which is hereby expressly acknowledged,

____________________________________________, the first party and

____________________________________________, the second party, on behalf

of themselves, their heirs, assigns and successors, jointly and severally

enter into this Indemnity Agreement to hold each other harmless form any

suit, liability, claim, action or loss arising out of the below described

incident:

WHEREFORE, it is further agreed that:

The first party shall have the following rights and the second party shall

have the following duties:

The right to be adequately and reasonably defended by the second party

should any claim arise regarding the before mentioned subject matter;

The right to defend his/herself should the second party fail to provide an

adequate and reasonable defense and the right to seek compensation for the

same from the second party;

The right to settle any action, suit, or claim, should the second party

fail to defend the first party, and;

The right to bring an action or suit to seek recommendations for all

reasonable attorney's and expenses required to enforce this agreement;

WHEREAS, the second party shall have the following rights and the first

party shall have the following duties:

Governing Law

The laws of the State of _______________ shall govern this Agreement

Attorney's Fees

Should any action be commenced between the parties to this Agreement concerning the

matters set forth in this Agreement or the rights and duties of either in relation thereto,

the prevailing party in such action shall be entitled, in addition to such other relief as may

be granted, to a reasonable sum as and for its Attorney's Fees and Cost.

Arbitration and Venue

Any controversy arising out of or relating to this Agreement or any modification or

extension thereof, including any claim for damages and/or recession, shall be settled by

arbitration in _____________County, ______________(state) in accordance with

the Commercial Arbitration Rules of the American Arbitration Association before one

arbitrator. The arbitrator sitting in any such controversy shall have no power to alter or

modify any express provisions of this Agreement or to render any reward which by its

terms effects any such alteration, or modification. The parties consent to the jurisdiction

of the Superior Court of _________(state), and of the United States District Court for

Indemnity Agreement Form