Finance, Taxes, Insurance
Hold-harmless agreements are too often anything but
You roll up to an FBO in a multi-million-dollar business jet, and they roll out the red carpet.

You roll up to an FBO in a multi-million-dollar business jet, and they roll out the red carpet. Your passengers disembark and you stroll into the office. There, the smiling customer service representative hands you a document. “It’s just our standard hold-harmless agreement,” she says. “We need your signature.”

Hold harmless? Sounds simple enough. But is it? And is it truly “harmless?” Is it worth the paper it’s written on? Should you sign it? Are you authorized to sign it? There are a lot of questions, and not too many answers. Nevertheless, the practice has become a matter of growing controversy in the past year or so, and in particular since September 11.