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hello everyone welcome back to our YouTube channel and today we are going to discuss about Indemnity and limitation of liability two very crucial contractual risk allocation Provisions found in most of the contracts and the implications on the parties involved Indemnity Clauses are contracted Provisions that requires a party to compensate the other party for any losses or damages that may arise from a certain events or situations the indemplifier in this case can agree to protect the indemnity holder from any Financial losses or expenses incurred due to their actions or those of a third party indemnification Clause plays an important role in commercial transactions by because it protects one party from the financial consequence of the other partys actions I wonder why Indemnity Clauses are needed when there is a statutory remedy for damages already available well an indemnity clause has a major advantage over a claim for damages as it extends to promises liability to losses and liabil
