hold harmless agreement

hold harmless agreement definition - business

hold harmless agreement

An arrangement between parties in which one party assumes the liability and agrees to hold the other party blameless. For example, an aircraft owner may agree to hold a maintenance company blameless for any problems that may develop from service on the aircraft.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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