A Hold Harmless Agreement is a legal contract in which one party releases another party from legal or financial responsibility. The purpose of the document is to provide a party with a liability waiver. The agreement can be presented as a separate document or as a clause, that can be included by parties in another legal contract (for example, it can be included in a lease agreement).
This document is similar to an Indemnity Agreement, a type of an agreement in which an Indemnitor is agreeing to compensate for the potential loss of an indemnitee. Despite the resemblance, a Hold Harmless and Indemnity Agreement serve different purposes and are considered to be different kinds of documents by the majority of specialists.
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