hold harmless clause

Английский Язык - Английский Язык

Определение hold harmless clause в Английский Язык Английский Язык словарь: An exculpatory clause freeing one from personal liability; A clause inserted in a contract whereby one party agrees to indemnify and protect the other party from any injuries or lawsuits arising out of the particular transaction; A clause frequently found in managed care contracts whereby the HMO and the physician hold each other not liable for malpractice or corporate malfeasance if either of the parties is found to be liable Many insurance carriers exclude this type of liability from coverage It may also refer to language that prohibits the provider from billing patients if their managed care company becomes insolvent State and federal regulations may require this language; a clause in a Temporary Order or Judgment which states which party should be responsible for payment of a debt, and provides that, if the other party is forced to make the payment, the party who should have paid will owe that money to the party who did pay; Also known as "save harmless clause" A clause in a contract in which one party releases another party for legal liability for a stated risk; Contractual clause where one party assumes a liability risk for another and, thus, effectively indemnifies the named party from any liability; – A clause frequently found in managed care contracts whereby the HMO and the physician hold each other not liable for malpractice or corporate malfeasance if either of the parties is found to be liable; A provision added to legislation ensuring that recipients of federal funds do not receive the same amount in a future year as they received in the previous year If a new formula for allocating funds will result in a reduction of federal funds, this clause is added to legislation, and is used most frequently to soften the impact of sudden reductions in federal grants; contractual provision that shifts liability inherent in a situation to another party