Indemnify against

What is legal indemnification? Although standard errors and omissions policies already indemnify against professional negligence, such policies typically exclude property in the care of the insured party, or else have very low indemnity limits. Indemnify definition is - to secure against hurt , loss , or damage. How to use indemnify in a sentence.

Synonym Discussion of indemnify. They agreed to indemnify the taxpayers against any loss. You hereby agree indemnify Sport Convergence against any claim , fine or damages resulting from such misuse. If Xybris is hold responsible due to the neglection of policies from law or from these TaC, the user commits himself to indemnify Xybris against all legal affairs in this circumstance. The definition of indemnify is to protect against loss , injury or damage or to pay someone for a loss they suffered.

An example of indemnify is when your insurance provider pays you for the repair of damage to your car. YourDictionary definition and usage example. Indemnify against all liabilities to protect your business assets when a particular loss occurs. Also known as “hold harmless” clauses, they are typically found in commercial contracts. It guarantees the other party to a predetermined amount of money in the event you breach the agreement you entered into with them.

Experts recommend that both terms be included for maximum protection. Instant Downloa Mail Paper Copy or Hard Copy Delivery, Start and Order Now! Developed by Lawyers, Customized by You. Users are seeing under days.

Growing Thicker Stronger Hair Fast. To indemnify another party is to compensate that party for losses that that party has incurred or will incur as related to a specified incident. Typical Indemnity Clause This is an example of what a typical indemnification clause can look like: “Party A will perform work at own risk, and indemnifies Party B against all loss, damages, expense. The obligation to indemnify arises once a judgment has been entere whereas the obligation to defend is triggered as soon as a claim is filed against the indemnitee.

Most states consider the duty to indemnify and to defend to be distinct obligations. In a one-way indemnification, only one party provides this indemnity in favor of the other party. The primary benefit of an indemnification provision is to protect the indemnified party against losses from third party claims related to the contract. To indemnify is to protect against or reimburse for damage, injury or loss.

Indemnification provisions are generally heavily negotiated (and often heavily litigated) clauses. Many professionals claim that indemnify protects against losses, while “hold harmless” protects against liabilities and losses. Hold Harmless Clause A hold harmless clause is a statement in a contract that states that an organization or individual will not be held liable for any injuries or damages caused to the other party. Questions Answered Every Seconds.

Indemnity clauses are used to manage the risks associated with a contract, because they enable one party to be protected against the liability arising from the actions of another party. They are particularly useful when the actions of one party are likely to create a risk which the other party would otherwise have to bear. Indemnity insurance is one way to be protected against claims or lawsuits. Many businesses require indemnity for their directors and executives because lawsuits are common. It covers court costs, lawyer’s fees, and settlements.

The most common case of a business that has indemnity agreements is in construction. But any business with employees may want those employees to sign an indemnity agreement to protect against employee lawsuits. Consultant shall indemnify , defend and save harmless the Client, and its officers, directors, employees and agents, from and against all liability, loss, cost or expense (including attorney’s fees) by reason of liability imposed upon the Client, arising out of or related to Consultant’s services, whether caused by or contributed to by the.

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