Indemnity Form: Meaning

In simple terms, an indemnity form means:

• A party of the contract is protected
• From the losses, damages risks, liabilities, vulnerabilities, etc
• Created by the other party

Here a couple of examples to get a better idea of when indemnity forms are used:

• Renting an expensive asset (e.g. a car, equipment, etc)
• Renting a property
• In insurance
• Basically, anytime a party wants to be protected from the burden of loss

Indemnity forms can also be called:

1. Releases of liability
2. Waivers of liability
3. Hold-harmless agreements
4. No-fault agreements
5. Indemnity agreement