A Held Harmless Agreement is a contract between two parties where one party agrees to not hold the other party liable for any incidents or damages that may arise while performing their duties. This agreement ensures that each party knows and accepts the risks involved in the endeavor, thus preventing them from bringing legal action against one another. It also outlines the circumstances under which one party can be held responsible for any issues related to the business at hand. A Held Harmless Agreement is an important document to have when conducting any type of business transaction. It helps to protect both parties involved and encourages fairness and trust between them.