What does indemnification mean in a contract?
Indemnification is a contractual obligation where one party agrees to compensate another for certain damages or losses.
When should I include indemnification clauses?
You should include indemnification clauses when there are risks of liability, such as in service agreements or partnerships.
Can you give me an example of indemnification in a contract?
Sure! For instance, a contractor may indemnify a client against claims arising from the contractor's work.
Are there any limitations to indemnification clauses?
Yes, limitations can include exclusions for gross negligence or willful misconduct, which are often not indemnified.
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