An indemnity agreement (sometimes called a “hold harmless agreement” is a binding contract that indemnifies (holds harmless) one of the parties in a contract for specific actions that might cause damage to the other party. Essentially indemnity is compensation for damages or loss. The concept of indemnity is based on a contractual agreement made between two parties, in which one party agrees to pay for potential losses or damages caused by the other party. You could view a sample indemnity agreement here-under and have one prepared for yourself.
