Business Law
Sentence and Word Structure

Indemnification clause example?

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Wiki User
2007-07-28 04:36:53

Ranges from very simple to very complicated.

Simple, "X agrees to indemnify Y against any claims by third

parties arising from conduct of X under this agreement."

Complicated: classifications of Y (corporation, employees,

directors, agents, vendors, customers), restrictions on types of

claims, where claims are brought (in USA, UK, Canada, anywhere

else), necessity of timely notice to Y of claim, power of Y to

intervene in case against X, obligation of X to reimburse specific

expenses of Y, limitations on indemnification costs, etc.

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