What are indemnity clauses and how do they work?
An example of an AI chatbot conversation about indemnity clauses in contracts.
What are indemnity clauses and how do they work?
Indemnity clauses are provisions in contracts that allocate risk between parties. They require one party to compensate the other for certain damages or losses.
Can you give me an example of an indemnity clause?
Sure! An example might be: 'The contractor agrees to indemnify and hold harmless the client from any claims arising from the contractor's negligence.'
Are indemnity clauses enforceable in all states?
Generally, yes, but enforceability can vary by jurisdiction and specific circumstances. It's best to consult a legal expert.
What should I consider before including an indemnity clause in my contract?
Consider the potential risks, the scope of indemnity, and whether it aligns with your overall risk management strategy.
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