Hold harmless agreement is a legal document protecting business owners and industrialists from being sued when employees suffer damage to physical, mental health or injury, or financial loss while a service is being provided.
It is a legal document protecting employers from being dragged in court by their employees. It is an official document and can be used to keep employees in check after their employment period is over. These are used as precautionary measures especially in industries like real estate and construction. Most of the hold harmless agreements are a few clauses defining the relation within a bigger contract. It helps companies to avoid unnecessary litigation and damage by their employees.
Template of hold harmless agreement is presented below,
This agreement is drafted on the date (__/__/__) between the following individuals,
Name: Eric Dane Address: 84 Heaven Street, North Dakota, USA. Contact: [contact]
Name: Derek Mason Address: 24 Hall Road, North Dakota, USA. Contact: 345 234-7394
Terms and conditions of the agreement are mentioned below,
This agreement shall commence from date (__/__/__) and should be followed seriously.
This agreement covers all the lawsuits of injury, damage, misconduct, mental or physical health loss and others.
Hold harmless agreement protects owners from lawsuits.
Employee is not allowed to sue their employer or company for any damage or financial loss.
In case of financial loss of property, employer will not be held accountable.
This agreement is prepared in the presence of legal counsels of both employer and employee to treat them fairly and make sure that they are aware of their rights.
No supplement or modification will be conducted in this agreement unless it is signed by both parties in the presence of legal counsel.
In case of fire hazard, all the precautions are in place by the employer therefore employee is not allowed to file a suit.
Employees cannot make any organization against their employer.
Suing employer is not an option during and after employment.
Employees will pay for their own counsels and suffer the burden of other legalities.
If employee do not follow this agreement, they shall face serious consequences.
Employer will be allowed to take legal actions if any employee sue them.
Hold harmless agreement cannot withhold if employee find the reasons of coercion or manipulation.
Employee can take legal action against employer if lives of people are at stake.
Employees can also nullify agreement if it is a matter of national security.
Employer may take serious action in court if the court do not find him culprit.
Employee may lose their money in court trials and other legalities.
This agreement is drafted in the presence of credible witnesses provided after the mutual understanding of both parties.