An official Hold Harmless Affidavit is an agreement that essentially dictates that a particular party should be held free from any kind of loss, damage or legal liability for the actions of another party. These agreements are legally binding and can have both judicial and financial implications depending on the context. By signing a Hold Harmless Affidavit, one party agrees to waive their right to seek damages from the other party in any subsequent legal cases or disputes. It’s important to understand the finer details of this type of agreement before committing to it – so make sure you get quality advice before signing!