What are some common misconceptions about indemnification clauses?
An example of an AI chatbot conversation about common misunderstandings of indemnification clauses.
What are some common misconceptions about indemnification clauses?
Many people think indemnification clauses protect only one party, but they can benefit both sides.
Can you explain how these clauses work in contracts?
Sure! Indemnification clauses allocate risk by requiring one party to compensate the other for certain losses.
Are indemnification clauses enforceable in all situations?
Not always. Their enforceability can depend on jurisdiction and the specific language used in the contract.
What should I look for in an indemnification clause?
Look for clarity on the scope of indemnity, the parties involved, and any limitations or exclusions.
Can I negotiate indemnification clauses?
Yes, indemnification clauses are often negotiable, so it's important to discuss them before finalizing a contract.
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