Kentucky Indemnification Provisions
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How to fill out Indemnification Provisions?
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FAQ
Indemnifications, or ?hold harmless? provisions, shift risks or potential costs from one party to another. One party to the contract promises to defend and pay costs and expenses of the other if specific circumstances arise (often a claim or dispute with a third party to the contract).
In addition, Kentucky has an anti-indemnity statute relating to construction contracts. If you are seeking to contractually indemnify you or your business, it is recommended that you consult a lawyer to review the provision.
The obligation to indemnify requires the indemnifying party to: Reimburse the indemnified party for its paid costs and expenses, referred to as losses. Advance payment to the indemnified party for its unpaid costs and expenses, such as: Liabilities.
Indemnity clauses will specify what types of loss or harm they cover, for example: all lawsuits, actions or proceedings, demands, damages and liabilities; all claims, liabilities, losses, expenses and damages arising from the contract; loss or damage or injury to property; and.
The features of an indemnity clause are as follows: It is a promise to shift the liability or risk against loss, harm, or damage. It is not a separate agreement. ... By the structure and contents of the indemnity clause, the scope of any indemnification duties one party may have to another party is determined.
Per the bracketed language below, an indemnity clause may include additional promises to defend and to hold the other party harmless if the event or condition occurs or if a third party makes a claim.
?The elements of a cause of action for indemnity are (1) a showing of fault on the part of the indemnitor and (2) resulting damages to the indemnitee for which the indemnitor is contractually or equitably responsible.? Expressions, supra, 86 Cal. App.
The obligation to indemnify requires the indemnifying party to: Reimburse the indemnified party for its paid costs and expenses, referred to as losses. Advance payment to the indemnified party for its unpaid costs and expenses, such as: Liabilities.