Easily Replace Sentence from the Indemnification Agreement

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How to Replace Sentence from the Indemnification Agreement

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the following BL TV program is brought to you by OFlaherty law please enjoy welcome to learn about law my name is kevin o Flaherty from OFlaherty law and today were gonna explain indemnification clauses an indemnification clause can be a standalone agreement or it can be a clause in a larger contract that is used to transfer risk of liability from one party to another so when you agree to identify indemnify someone youre stating that if you or your agents do certain things that result in the other party experiencing a monetary loss youre gonna reimburse the other party for that loss some examples of when you would use net indemnification Clause are independent contractor agreements so if my business is hiring someone to be an independent contractor and Im not going to have a whole lot of oversight over them the independent contractor might agree that if anybody sues me based on the work that they are doing for me theyre going to indemnify me which means that theyre going to cov

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How do you use indemnification in a sentence?

1. Due to a clause for indemnification, the neighbors teenager had to give his allowance to the neighbor for weeks until the broken window was repaid. 2. During the car crash court hearing, the plaintiff requested indemnification from the defendant to be made whole since she needed her medical bills paid.

What is replacement in indemnity?

indemnity. insurance. Replacement insurance. This is a policy under which an insurance company will replace a lost or destroyed item with a new one or repair the item, so it is as new as practically possible.

How do you use indemnifies in a sentence?

The contract indemnifies them against loss of earnings.

How do you use the word indemnification?

Indemnification Sentence Examples What is the liability exposure and is there any corporate indemnification (and insurance )? The assythment, or indemnification due to the heirs of the person murdered from the murderer, is due if the murderer has received pardon, though not if he has suffered the penalty of the law.

What is indemnification with example?

to pay or promise to pay someone an amount of money if they suffer damage or loss: In return for a premium, the underwriter agrees to indemnify the insured against losses covered by the insurance.

What is an example of an indemnification agreement?

Insurance policies are a common example of one party indemnifying another. When you purchase an insurance policy, the company essentially agrees to indemnify the policy holder, or another party, against any damages that may occur.

What is the verbiage for indemnification clause?

Notwithstanding anything to the contrary contained herein, Sponsor shall not have any obligation to defend, indemnify, or hold Indemnitees harmless from claims, suits, or damages arising as a result of, or in connection with, willful malfeasance or negligent acts or omissions of Indemnitees.

What is the best definition of indemnification?

Indemnification is the act of providing protection or security against potential damages or loss or compensating someone for damages or money spent.

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