Contract Without Indemnity Clause
Description
How to fill out General Form Of An Indemnity Agreement?
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FAQ
Indemnity Exceptions. If the alleged infringement is caused as a result of [PARTY B] (a) modifying or altering the Services, or (b) combining the Services with products or services not supplied by [PARTY A], [PARTY A] is not required to indemnify [PARTY B] unless in either case [PARTY A] gave its prior written consent.
A common formulation for the negligence exception is: "The Indemnifying Party is not obligated to indemnify the Indemnified Party for any claim arising out of the Indemnified Party's negligence or a more culpable act or omission, including recklessness or willful misconduct."
There are several things to consider when negotiating the indemnification clause in a business contract, including but not limited to: Mutual indemnification. Ensure that the indemnification provision is mutual and not one-sided. ... Limits of liability. ... Insurance coverage. ... Define the circumstances. ... Scope.
If there is no indemnification clause, both parties are at a higher risk of liability when a dispute arises. The harmed party may not only incur liability, but they may also face unexpected third-party claims.
Indemnification clauses appear in nearly all commercial agreements. They are an essential risk allocation tool between the parties, and as such, they are one of the most commonly and heavily negotiated provisions in a contract.