What is indemnity example?

A common example of indemnification happens with reagrd to insurance transactions. This often happens when an insurance company, as part of an individual's insurance policy, agrees to indemnify the insured person for losses that the insured person incurred as the result of accident or property damage.

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General Guaranty and Indemnification Agreement

Indemnification For Breach Of Contract

Name: Indemnification For Breach Of Contract
Brand: US Legal Forms
Rating: 4.72 (372 reviews)

Category:

Contracts - Indemnification

State:

Multi-State

Control #:

US-00525

Format:

Instant download

Description Indemnification Legal Meaning

This form states that the guarantor does covenant and agree to defend, indemnify and hold harmless, absolutely and unconditionally,the seller from and against any and all damages, losses, claims, demands, actions, causes of actions, costs, expenses, liabilities and obligations of any kind whatsoever, including, but not limited to, attorney's fees.

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How to fill out Sample Indemnification Clause?

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Indemnification Direct Claims Other Form Names

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Indemnification Notice Prejudice FAQ

At their core, indemnification provisions transfer liabilities related to a claim from one party to another party, generally in the event of a breach of contract or a party's negligence or misconduct in the performance of the agreement.

As per section 124 of the Indian contract Act 1872- a contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself, or by the conduct of any other person, is called a " contract of indemnity".

Example 1: A service provider asking their customer to indemnify them to protect against misuse of their work product. Example 2: A rental car company, as the rightful owner of the car, having their customer indemnify them from any damage caused by the customer during the course of the retnal.

Company/Business/Individual Name shall fully indemnify, hold harmless and defend and its directors, officers, employees, agents, stockholders and Affiliates from and against all claims, demands, actions, suits, damages, liabilities, losses, settlements, judgments, costs and expenses (including but not

A common example of indemnification happens with reagrd to insurance transactions. This often happens when an insurance company, as part of an individual's insurance policy, agrees to indemnify the insured person for losses that the insured person incurred as the result of accident or property damage.

Sample Indemnification Clause Interesting Questions

More info

What Is "Indemnification? Indemnification is the practice of guaranteeing a third party claim against your counterparty.Often, the indemnified party would ultimately be able to recover on the loss under another legal theory, such as breach of contract or tort.

Indemnification For Breach Of Contract

Description Indemnification Legal Meaning

Indemnity Clause Example Related forms

How to fill out Sample Indemnification Clause?

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Indemnity Clause Form Rating

Indemnify Clauses Form popularity

Indemnification Direct Claims Other Form Names

Indemnification Notice Prejudice FAQ

Can you indemnify for breach of contract?

How can breach of contract be indemnified?

What is an example of indemnification clause?

How do you write an indemnification clause?

What is indemnity example?

Sample Indemnification Clause Interesting Questions

What is indemnification for breach of contract?

Why is indemnification important in a multi-state contract?

Can indemnification for breach of contract be disputed?

Do all contracts require indemnification clauses?

What types of damages can be indemnified in a breach of contract?

Can the limitation of liability be included in the indemnification clause?

How should a party seek indemnification in case of breach of contract?

What happens if one party fails to indemnify as per the contract terms?

Are there any limitations or exclusions to indemnification for breach of contract?

Can the parties negotiate the terms of indemnification?

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