What are some examples of indemnification clauses in contracts?

What are some examples of indemnification clauses in contracts?

Indemnification clauses are provisions in contracts that protect one party from losses or damages caused by the other party. For example, in a construction contract, the contractor may agree to indemnify the property owner against any claims arising from the contractor's work.

Can you give me another example?

Sure! In a service agreement, a consultant might indemnify the client against any legal claims resulting from the consultant's advice or actions.

What should I consider when drafting an indemnification clause?

When drafting an indemnification clause, consider the scope of indemnity, the types of claims covered, and any limitations on liability.

Are there any risks associated with indemnification clauses?

Yes, risks include potential unlimited liability and the possibility of being held responsible for third-party claims, so it's important to negotiate terms carefully.