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In this tutorial, Kevin O'Flaherty from O'Flaherty Law discusses indemnification clauses, which can either be standalone agreements or part of larger contracts. These clauses are designed to transfer the risk of liability from one party to another. When one party agrees to indemnify another, they commit to reimbursing the other for any monetary losses incurred due to actions taken by them or their agents. Indemnification clauses are commonly used in independent contractor agreements, where a contractor agrees to cover any legal damages or losses that may arise from their work for the hiring party.