Indemnification Clause In Msa
Description
How to fill out Indemnification Agreement For A Trust?
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FAQ
Many clients insist on unilateral indemnification clauses, basically putting all potential liability solely on a contractor's shoulders. The latter should insist on a mutual indemnification clause, where both parties are responsible for liabilities that arise out of their own fault.
In most contracts, an indemnification clause serves to compensate a party for harm or loss arising in connection with the other party's actions or failure to act. The intent is to shift liability away from one party, and on to the indemnifying party.
Mutual indemnity A primary example is a contract providing that each party shall indemnify the other parties for losses caused by their own breach of contract. An owner and contractor in a construction contract would also often seek mutual indemnity for construction defects or other damages.
Indemnification. With an indemnification, either or both parties agree that they will cover the costs of certain disputes related to the contract brought by third parties (that is, people who are not parties to the agreement).
The concessionaire shall indemnify, defend and hold harmless the contracting authority from and against, all liabilities, damages, losses, expenses and claims of any nature whatsoever for personal injury and for damage to or loss of any property arising out of or in any way connected with the indemnifying party's ...
