The person who promises to make good for contingent damages is called the Indemnity holder. The indemnity holder is entitled to recover any or all of the amounts of compensation under the contract of indemnity.
The rights of Indemnity holder are as fallows:
- To recover entire indemnity amount prescribed in the agreement of contract.
- To claim all damages compelled to pay to a third party for loss
- To claim all costs spent in relating to indemnity.
- To claim all the costs of legal actions.
But, except otherwise is mentioned in the contract, the indemnifier will not be liable for the loss in the following circumstances, which are called also the duties of indemnity holder:
- Not to work negligently.
- Work without the intention of causing any loss or damage.
- Not to work against the instruction of the promisor or indemnifier.
- Work in according with agreement of contract.