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White Out Indemnification Agreement

White Out Indemnification Agreement

Aug 6th, 2022

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How to White Out Indemnification Agreement

4.7 out of 5

9 votes

In this video tutorial, Kevin O'Flaherty from O'Flaherty Law explains indemnification clauses, which can be standalone agreements or part of larger contracts, aimed at transferring liability risk between parties. When one party indemnifies another, they commit to reimbursing them for losses incurred due to actions taken by the indemnifying party or their agents. A common example is in independent contractor agreements, where the contractor agrees to indemnify the business against any lawsuits arising from their work, thus protecting the business from potential financial losses related to the contractor's actions.

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