What is a substitute for indemnity?
How is the word indemnify distinct from other similar verbs? Some common synonyms of indemnify are compensate, pay, recompense, reimburse, remunerate, repay, and satisfy.
What are common indemnity examples?
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.
What is a good indemnity clause?
An indemnification clause may allow: The indemnified party to recover certain types of losses, such as attorneys fees, which are not typically recoverable under a common law cause of action. The indemnifying party to reduce its liability by incorporating: Liability cap. Materiality qualifiers.
What is the standard indemnity wording?
Each party shall indemnify the other party from any and all claims, causes of action, suits, damages or demands whatsoever, arising out of any bdocHub of this agreement by the indemnifying party.
What is the wording of indemnity clause?
The Company shall indemnify, defend, and hold harmless the Ramot Indemnitees against any liability, damage, loss, or expense (including reasonable attorneys fees and expenses of litigation) incurred by or imposed upon any of the Ramot Indemnitees in connection with any third party claims, suits, actions, demands or
How do you write an indemnity statement?
[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
What is an example of an indemnity statement?
[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
How do I write a letter of request for indemnity?
Letters of indemnity should include the names and addresses of both parties involved, plus the name and affiliation of the third party. Detailed descriptions of the items and intentions are also required, as are the signatures of the parties and the date of the contracts execution.