Indemnity agreements are arrangements between parties where one party agrees to accept the risk of the other's conduct, indemnifying them for any damages resulting in that conduct. Typically, one of the party's to an agreement can indemnify the actions of the other, so long as those actions are not intentional, or do not constitute gross negligence. In those instances, an individual is generally not allowed to be indemnified.

Indemnity agreements are most commonly a clause in a larger agreement. At Springmeyer Reddy, we typically include indemnity clauses in all of our business formation documents, having the business indemnify the owners for their actions related to starting and managing the business. These types of clauses can also arise in general service agreement contracts.

If you are interested in creating an indemnity agreement, please contact us.