Release Hold Harmless And Indemnity Agreement: Fill & Download for Free

A hold harmless (indemnification) agreement is needed for holding a business harmless for any burden loss or damage done by the person or entity. This type of agreement also ensures that compensation is given in a case of some losses and damages.This type of agreements could be used in cases, where you are assuming the risk for something you’re not directly responsible for, you’ll likely need an indemnity agreement, here are some examples of cases and a template: Indemnification Agreement (Free Template)It is a very essential element for many business relationships that result in some shared risk for both parties and forces them to think about these risks in advance and put measures in place if something unexpected happens.Without such agreements, parties could blame each other when issues arise, resulting in expensive lawsuits. The challenge with such types of agreements is that they can be written in a one-sided way. That’s why it’s worth engaging with attorneys when assessing these clauses to ensure the deal is reasonable and fair for all parties.

I will add my opinion to this question, because it differs from the other answers you’ve received thus far.To tidy up a civil disagreement, especially when the potential exists (or has already been realized) for a lawsuit to arise between two or more parties, the party/parties who is/are paying or settling usually will require you (the opponent) to sign an indemnity agreement before they compensate you and the civil disagreement is considered finally and permanently closed. — It serves both, or all, opposing parties for these executed agreements to exist. They’re like the period at the end of a sentence.A common, pro forma version of such a release of liability document will say:“I (insert your name), in my capacity as (insert your title) and on behalf of (for instance, the plaintiff), agree to hold harmless the (defendant/respondent, for instance), his heirs, assignees, insurers … [this can be a very long, comprehensive list of various ways of saying virtually the same thing] … for any future costs, harms, liabilities … [once again, some very long and comprehensive list of things] … which may arise from the matter that happened on or around the day (or period) MM, DD, YYYY, in exchange for a payment of (insert the sum of money both parties agreed on to settle, or that was ordered to be paid by one party to another by a court of law).In dealing with insurance companies or unrelated small claims court lawsuits, I’ve read tons of these, and I’ve drafted our own reciprocal release of liability agreements. They are tedious. I bring them up because you will know if you’ve signed one. — I am not an attorney. I bring that up because you don’t have to be one to understand what function these documents serve and what it means when you don’t have one.They are signed and the signatures of those signing are notarized at that time. They’re very important legal documents involved in the settling or otherwise closure of matters when the exchange of money, or goods or services, is part of the mechanism that settles or closes the matter of legal disagreement for all time.At the end of the proverbial day, these are binding contracts; when drafted and executed correctly, they are enforceable in courts of law (e.g., the plaintiff who, in this case, won, can’t come back in five years and demand more money from you [the defendant/respondent/opponent]; not for the same thing covered in the indemnity agreement and having occurred on the date, or during the period, listed).Now, examine what is said in your question, paraphrasing: They sent me the wrong amount.Well, who decided what the correct amount was? — Do you have a judgment that lists a different amount that you consider to be the correct amount? Do you have a properly executed indemnity agreement that specifies the agreed-upon amount?If you don’t, then you can cash the check you received and just bookkeep it as a prepayment or partial payment. That’s very simple. Look at it in accounting jargon. Assume you had agreed to settle for, or your judgment was in the amount of, $5,000. I’ll make up the dates, and “DR” means DEBIT and “CR” means credit.On 05/01/20XX, you sign an agreement and are promised $5,000 by 06/01/20XX.DR Asset Receivable (Agreement) — $5,000.00CR [What account you choose here will depend on your particular circumstances, so I will just leave it blank.]—On 06/01/20XX, you receive a check for $4,000, which has, in the Memo section, written: “Final Payment”.We don’t care what they typed on their check. We know how much is owed. We deposit the check!DR Bank — $4,000.00CR Asset Receivable (Agreement) — $4,000.00—The entry above, on June 1st, reflects the increase in the amount of cash you have in your bank account, and it reflects that your opponent owes you less money.But, does it show that your opponent has satisfied his obligations in-full? → Absolutely not.Your Asset (Receivable) account still shows $1,000.00. As it’s a receivable account, it is reflected that you expect the account balance, eventually, to drop to $0.Cashing the check did not reduce that “due-from” account to zero. Nothing about cashing a partial payment finalizes an agreement. Only a payment-in-full, even if it's a series of payments which, in the aggregate, sum to payment-in-full, satisfies the agreement that you made.And, depending on how your liability agreement was drafted, partial payments may not have been allowed; you’re still free to take the jokers back to court, or to court for the first time — whatever the circumstances may be — until they make payment-in-full. For instance, you could charge the maximum (statutory) interest allowed under the law during this time on all monies not yet paid by the date promised in the agreement. Or, late fees … Whatever you want; just make sure you’re not committing usury, because that’s a felony.The simplest argument is this. → You claim your employer owes you money. During the period of disagreement, they are spending money, any bit of which you could say was yours.If they send you some money, then you can deposit it, and use it, during the period of disagreement. → That’s what they’re doing, right?I cannot imagine that you meant that you were overpaid; surely, you meant, by “incorrect amount,” that you’d been underpaid.You are entitled to the full amount of your just compensation. If they send you an incorrect amount, just construe it as a partial payment. Cashing the check could be the best thing for you. — It proves part of your case; namely, that your previous employer underpaid you.They wrote you a check. You cashed it. They did not file a stop payment. They are not requesting the funds back. Ergo, they just admitted that they owe you money. — If you think they owe you even more money, then you’re on much better footing.This is a trick in business, but it’s ethical. When your customer and you sign a bid, or a “contract,” have them make a down payment. 10% is common. Banks hate that practice. You know why?Because it’s the quid pro quo part of a contract. “I agree to do something for you in exchange for you paying me a certain amount of money.”That is just a memorandum of understanding until the party in need of your goods or services pays you something. Once you get that down payment, that is a legal contract.Similarly, here, cashing the check “of incorrect amount” from your previous employer establishes that the matter of disagreement is real and recognized by both parties. They cut you a check, and you cashed it and are using the money as if it was your own, because it is your own.You’ve chipped away part of the disagreement. Both parties now agree that the previous employer has owed you money, which they did not pay in a timely fashion, which is required by, among other things, the Fair Labor Standards Act (FLSA) of the United States federal government. — You just tipped the scales in your favor.Technically, possession of that check, and the date you received it, is proof enough. But, if you need the money, cash it. Then, the bank will date stamp it for you, and you get the benefit of the money whilst it is in your possession.Do whichever helps you the best. It doesn’t matter in the eyes of the law, and I would make the case that making a copy of the check, front and back, and then depositing it into your bank account, if you are only immediately after going to withdraw the same or similar sum of money, is the better option, because the bank is a neutral intermediary and doesn’t even know that they are involved in the dispute you have with your previous employer. But! They do record all of the pertinent details, for at least ten years if not in perpetuity, so if you lose your copies, they will have them digitally imaged, in their possession, and you will have access to them, on-demand, wherever you are.

For a more detailed explanation on each document, follow the link on my profile. You will also get the templates.You will need atleast one or more of the documents below at some point in your startup.Confidentiality and Intellectual Property FormsForms for protecting information and intellectual property.1.Confidentiality Agreement2.Non-Disclosure Agreement3.End User License Agreement (EULA)4.Trademark Assignment5.Assignment of Trade Name6.Cease & Desist Letter7.Non-Compete AgreementShareholder FormsForms for shareholders in a corporation.1.Shareholders' Organizational Meeting2.Shareholder Agreement3.Shareholders' Consent to Action Without Meeting4.Minutes of Shareholders' Meeting5.Share Repurchase Agreement6.Shareholder Proxy7.Shareholder's Appointment of Representative8.Share Purchase Agreement9.Share Subscription10.Shareholder Loan AgreementIncorporationForms and paperwork for incorporating a business and running a corporation.1..Business Plan2.Corporate Bylaws3.Certificate of Incumbency4.Articles of Incorporation5.Incorporators' Organizational Meeting6.LLC Articles of OrganizationBuying and Selling a BusinessDocuments for buying or selling a business.1.Purchase of Business Agreement2.Letter of IntentMusic/Entertainment FormsForms for musicians, bands, performers, and models.1.Band Partnership Agreement2.Model and Entertainment Release3.Performance Contract4.Music Recording ContractProtecting your BusinessForms for protecting your business, absolving future liabilities, and offering guarantees.1.Hold-Harmless (Indemnity) Agreement2.Liability Waiver3.Non-Compete Agreement4.Personal/Corporate GuaranteeDirector FormsForms for directors of a corporation.1.Directors' Organizational Meeting2.Directors' Resolution3.Consent to be Director and OfficerPartnership and Joint Venture FormsForms for creating and managing general partnerships and joint ventures.1.Partnership Agreement2.Assignment of Partnership Interest3.Partnership Amendment4.Notice of Withdrawal from Partnership5.Joint Venture AgreementLimited Liability Company (LLC) FormsDocuments for setting up and operating a Limited Liability Company.1.LLC Operating Agreement2.Employment and Human Resource (HR) FormsForms for hiring, managing, and terminating employees.3.Employment Contract4.Compensation Agreement5.Employment Offer Letter6.Employee Privacy Policy7.Employment Termination Letter8.Employee Warning Letter9.Employee Evaluation10.Resume Builder11.Cover Letter12.Letter of Recommendation13.Reference List14.Resignation LetterModifying a Business AgreementForms for amending, terminating, assigning, or providing execution of a business document.1.Termination Agreement2.Contract Addendum3.Assignment4.Certificate of Proof of Executin by a Subscribing Witness5.AffidavitService FormsForms for outlining the terms of a service.1.Service Agreement2.Freelance Contract3.Catering Contract4.Cleaning Services Agreement5.Child Care Contract6.Computer Services Agreement7.Consulting Agreement8.Building Contract9.Construction ContractFind all the documents in my profile link.