Bảo hiểm & Quyền cầm giữCâu 1512 / 1605
An 'indemnitor' in a hold-harmless agreement is the party who:
a.Issues the insurance policy
b.Records the mechanics lien
c.Is protected from losses
d.Agrees to bear or reimburse the other party's specified losses
Giải thích
In an indemnity/hold-harmless clause, the indemnitor agrees to assume, defend, or reimburse the indemnitee's specified losses. The indemnitee is the protected party. Understanding these roles is essential to allocating construction risk correctly.
Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A certificate of insurance lists a policy that the insurer canceled the following week. If the certificate says coverage is effective for the full year, the certificate holder's coverage is:
- On a private single-family remodel with no notice of completion recorded, the owner occupies the home and all labor stops. The 90-day lien clock for claimants runs from:
- The main reason an owner requires the general contractor to furnish BOTH a performance bond and a payment bond is to:
- Best practice is to serve the Preliminary Notice at the START of a project even if payment is currently on time, because:
- Which statement about surety bonds is TRUE?
- A notice of completion was recorded on July 1. An unpaid drywall subcontractor wants to record a mechanics lien. The last day to record is approximately:
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Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)