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Sidetrack Agreement

 
Insurance Dictionary: Sidetrack Agreement

Type of hold-harmless agreement made by a property owner as a condition for being served by a railroad spur. If the owner wants a special sidetrack, the railroad requires the owner to assume responsibility for certain losses for property damage or injury arising from use of the track, even if the railroad is at fault. Most common in these agreements is responsibility for loss due to fire.

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Insurance Dictionary. Dictionary of Insurance Terms. Copyright © 2000 by Barron's Educational Series, Inc. All rights reserved.  Read more