The Indemnification and Hold Harmless Affidavit is commonly used in situations where one party needs to formally declare responsibility for potential risks while protecting another party from liability. This document is particularly relevant in business transactions, property transfers, or professional services where risk allocation is crucial. It must be properly executed according to U.S. state and federal requirements, including notarization. The affidavit typically includes specific details about the scope of indemnification, the parties involved, and any limitations or exclusions to the indemnification provisions.
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1. Identification of Parties: Full legal names and addresses of the indemnifying and indemnified parties
2. Background: Context and circumstances necessitating the affidavit
3. Definitions: Key terms used in the affidavit
4. Indemnification Scope: Specific details of what is being indemnified against
5. Hold Harmless Provisions: Specific provisions regarding holding the party harmless
6. Attestation: Sworn statement of truth and accuracy
7. Notarization Block: Space for notary verification
1. Insurance Requirements: Details of required insurance coverage when specific insurance requirements are part of the indemnification
2. Duration: Time period for which indemnification applies when the indemnification is time-limited
3. Exclusions: Specific exclusions from indemnification when certain risks or circumstances are explicitly excluded
1. Schedule A - Specific Assets: List of specific assets covered by indemnification
2. Schedule B - Excluded Claims: Detailed list of claims explicitly excluded from indemnification
3. Schedule C - Insurance Certificates: Copies of relevant insurance certificates
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