How do I draft indemnification clauses in contracts?

How do I draft indemnification clauses in contracts?

Drafting indemnification clauses involves specifying the obligations of one party to compensate another for certain losses or damages. You should clearly define the scope, limitations, and any exclusions.

What key elements should I include in the clause?

Key elements include the indemnifying party, the indemnified party, the types of claims covered, and any limitations on liability.

Can you give me an example of an indemnification clause?

Sure! Here's a simple example: 'The Indemnifying Party shall indemnify and hold harmless the Indemnified Party from any claims arising out of...'

Are there any common pitfalls to avoid?

Yes, common pitfalls include vague language, overly broad indemnity, and failing to specify the governing law.