Hold Harmless Agreement
A contract where one party agrees not to hold another liable for specific risks, damages, or losses.
What is Hold Harmless Agreement?
A Hold Harmless Agreement is a legal contract in which one party agrees not to hold another party liable for certain risks, damages, or losses that may arise from an activity, service, or transaction.
Why It Matters?
It shifts or limits liability, protects parties from potential claims, and clarifies responsibility before engaging in potentially risky activities.
Example
A property owner requires a contractor to sign a hold harmless agreement before performing renovations, protecting the owner from liability for on-site injuries.
Related Terms
Mediation
Litigation