Indemnification: Understanding an Indemnification Clause An indemnification clause ensures that you don’t face civil damages in several legal situations In this article, we discuss indemnification, how it works in legal contracts, different types of indemnification, examples, and more
What is Indemnification? A Comprehensive Guide | UpCounsel What does indemnification mean in company law? In company law, more often referred to as business law, indemnification refers to the process of a company agreeing to compensate its officers, directors, and employees for certain liabilities or legal costs that arise from the company’s actions
Indemnification Clauses in Commercial Contracts - Thomson Reuters What is indemnification? Indemnification refers to the broad concept of one party compensating another for losses, damages, or liabilities, usually due to third-party claims It’s an agreement that safeguards one party against the financial impacts of specific actions or events
Indemnification Clauses in Contracts: Purpose Key Implications Indemnification clauses are crucial contractual provisions that allocate financial responsibility for specific losses These clauses offer several advantages, including the distribution of financial risk and protection against claims from external parties
indemnify | Wex | US Law | LII Legal Information Institute To indemnify, also known as indemnity or indemnification, means compensating a person for damages or losses they have incurred or will incur related to a specified accident, incident, or event
What Is Indemnification? - American Legal Journal When parties enter into a contract, they often include an indemnification clause to protect one or both parties from potential financial losses and cost implications
What is Indemnification? Indemnification Clauses Explained - OFlaherty Law Indemnification is a fundamental aspect of contract law that refers to the duty of one party to reimburse another for any losses or damages incurred It serves as a form of protection, shielding the indemnified party from financial harm