This type of agreement is generally struck between two contracted parties. Both of the involved parties must provide a signature on the form. The purpose of the contract is to release at least one party from the risk that legal claims will be filed. In some cases, both parties will be released. Sometimes contracts have a hold harmless clause within the contract. This Hold Harmless Agreement Texas PDF is independent paperwork from the contract. So if you already have your contract you can append this to the paperwork.
In its most common inception, a hold harmless agreement will be used for one party to contractually agree that they won’t take any legal actions against the other party regarding expenses, losses, personal injury, liability for accidents, or damages that result because of activity between them. A transaction can also count as an activity. The contract will outline the activity or transaction during which legal action cannot be taken by the other party and this way have a certain guarantee that a party or parties will be held harmless.
Oftentimes, you’ll see hold harmless agreements implemented during construction contracts in real estate. The contract clause releases one of the parties from consequences or liabilities that might arise due to actions taken by the other party. When these circumstances arise, usually the subcontractor is the one providing the agreement to the general contractor, builder, contractor, or other relevant professionals to ensure that all of the subcontractor’s work is free from liability claims.
The provisions outlined in the agreement help minimize the party’s risk of facing a lawsuit. They also permit the parties involved to file an indemnity claim should their subcontractor or subcontractor’s employees be injured while working. With PDFSimpli’s amazing tool, you will be able to edit and make your Hold Harmless Agreement.