HOLD
HARMLESS CLAUSE
The
valuer should include a hold harmless or indemnifying
provision which would become a contractual agreement between the
landlord, tenant and valuer.
Examples
of forms of indemnities are set out below although legal advice
should be sought as to an appropriate clause.
INDEMNITY
FROM LESSOR
In
consideration the [valuer] accepting the appointment and agreeing to
undertake the Rental Determination, [Lessor] agrees to indemnity and
keep indemnified [valuer] and [valuation Practice] from and against
all liability, costs, expenses or damages (including without
limitation the time of [valuer] and/or [valuation Practice's
personnel] paid or incurred by [valuer] and/or [valuation Practice] in
connection with any claim brought by or on behalf of Lessor in
respect of the Rental Determination and/or services provided in
connection therewith.
This
indemnity shall not apply in the case of fraud or willful misconduct
on the part of [valuer] and/or [valuation Practice] but shall
otherwise apply to all conduct of [valuer] and [valuation Practice]
whether or not such conduct constitutes a breach of contract,
negligence and/or breach of any other standard prescribed by
Statute.
INDEMNITY
FROM LESSEE
In
consideration of [valuer] accepting the appointment and agreeing to
undertake the Rental Determination, [Lessee] shall indemnify and
keep indemnified [valuer] and [valuation Practice] from and against
all liability, costs, expenses or damages (including without
limitation the time of [valuer] and/or [valuation Practice]'s
personnel} paid or incurred by [valuer] and/or [valuation Practice]
in connection with any claim brought by or on behalf of [Lessee] in
respect of the Rental Determination and/or services provided in
connection therewith.
This
indemnity shall not apply in the case of fraud of willful misconduct
on the part of [valuer] and/or [valuation Practice] but shall
otherwise apply to all conduct of [valuer] and [valuation Practice]
whether or not such conduct constitutes a breach of contract,
negligence and/or breach of any other standard prescribed by Statute.