What is indemnity form?
The indemnity form is used for the protection of the company from the legal situation that may arise due to fault of others. If at all there is a mishap in your office or at the workplace due to the fault of someone else you should remain protected and here comes the role of the indemnity form. The indemnity form should be signed by the third that is going to get into a business deal with you and though appear harmless can become a reason of any mishap at the work place. It is unnatural that you be blamed for someone else’s fault but since it may happen you should take precaution and get the other person sign the indemnity form. This not only frees you from the stress of the accident at work place but also makes the signatory responsible for his work and therefore they become extra cautious. This formed should be signed when
Someone is using your property and may cause damage to the property or anyone.
If someone has been hired to give you some services such as plumber or electrician.
If you take the responsibility of your own action and protect someone else from being prosecuted due to you.
When someone signs this form they are agreeing that they can be prosecuted for their deeds and it won’t affect you in any way. The indemnity form protects you and is kind of a shield against the impending law suit.