Hold Harmless Agreement 

A contract provision that transfers liability from one party to another; an agreement that one party will assume the other's liability arising under or because of the contract. Such agreements are frequently found in leases, sidetrack agreements and easements. There are three major types: clarification type--the parties provide that each will assume its own legal responsibility or will make only a small or reasonable transfer of responsibility from one party to the other; moderate type--one party assumes all legal liability except for the negligence of the other (this is considered the standard agreement); severe type--one party assumes all legal liability without regard to fault or negligence.