Indemnity clauses are included in contracts to provide a means by which the contracting parties can shift the responsibility of risk. “Indemnity clauses can expand, limit or even eliminate the ...

Surety bonds are instruments that create a legal obligation for one party to pay another. An indemnity bond is a specific type of surety bond that’s often used in situations where someone is borrowing ...

The indemnification clause is one of the most important provisions in a construction contract. It transfers risk from one party, the “indemnitee,” to another party, the “indemnitor.” The risk is ...

If you’ve ever bought a property or entered into a business contract, chances are that you’ve come across the term 'indemnity'. A letter of indemnity is often used in property as an important ...

According to Black's Law Dictionary, indemnity is "a duty to make good any loss, damage, or liability incurred by another." It's possible to limit the scope of that duty during contract negotiations.

Whether you know it or not, the Uniform Commercial Code imposes a warranty of non-infringement on every product you as a product manufacturer sells. Essentially, the law requires to you to guarantee ...

Indemnification is used for risk allocation Indemnification may include defense obligation Indemnified party is entitled to reimbursement for covered losses Indemnification can be complex and heavily ...

Fixed indemnity plans pay you a set amount if certain medical situations happen, like getting a critical illness or breaking a bone. You might have a plan that gives you $100 per day if you're in the ...

Indemnification of the policyholder is a core principle of the property insurance industry. A similar principle holds that the policyholder shall be “made whole” but not put in a better position than ...