This form provides boilerplate contract clauses that outline the obligations of nondisclosure and the restrictions that apply to public announcements regarding the existence or terms of the contract agreement. Several different language options representing various levels of restriction are included to suit individual needs and circumstances.
Georgia Announcement Provisions in the Transactional Context
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How to fill out Announcement Provisions In The Transactional Context?
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FAQ
Indemnification clauses vary widely, but in a typical indemnification provision, the obligor (indemnifying party) promises to reimburse the obligee (indemnified party) from and against any and all "losses, liabilities, claims, and causes of action" (recoverable damages) incurred by the indemnified party that "cause," " ...
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.
The right to indemnification may be implied by obligation of law in vicarious liability situations or created by express contract. Implied (or common law) indemnification exists where ?the law imposes liability on a party who has committed no actual wrong but who is held responsible for a loss ... ?
Indemnification requires the indemnifying party to: Reimburse for covered paid costs and expenses (losses). Georgia courts require reimbursement for all paid losses pursuant to the parties' contract (see, for example, Deep Six, Inc.
Indemnification is protection against loss or damage. When a contract is breached, the parties look to its indemnity clause to determine the compensation due to the aggrieved party by the nonperformer. The point is to restore the damaged party to where they would have been if not for the nonperformance.