Legal definition of indemnification
NettetAny deductibles, baskets, or thresholds that apply to shift the risk back to the indemnified party until the specified level of damages have accrued. The relationship between the indemnification clause and other provisions in the contract, for example, any: 11. Any statutory, common law, or public policy barriers to indemnification, such as any ... NettetAn indemnity is a promise by one party to compensate another for the loss suffered as a consequence of a specific event, called the 'trigger event'. The trigger event can be anything defined by the parties, including: a breach of contract. a party's fault or negligence. a specific action. An indemnity operates as a transfer of risks between the ...
Legal definition of indemnification
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Nettet2. okt. 2024 · Indemnification is legally defined as the act of compensating someone for a loss or damage they have suffered. It can also refer to the protection of someone from any legal consequences that may arise from their actions. In business, indemnification is often used to protect a company from any financial damages that may be caused Nettet26. aug. 2024 · Notwithstanding the foregoing legal definition Notwithstanding the foregoing indicates to the reader that what the author is about to say supersedes or prevails over what was just presented. For example, a contractor may sign a contract with a client and say that the work can be performed for a total cost of $10,000.
NettetThis is because it's not a pre-made umbrella level of protection like an indemnification, nor is it limited to a breach of contract and claiming damages. A hold harmless clause is a clear legal statement indicating that an individual or enterprise will not be held liable for the following actions that are caused to another party, such as: Risk. Nettetto secure against hurt, loss, or damage; to make compensation to for incurred hurt, loss, or damage… See the full definition
NettetDid your loud partying make your neighbors move out? You may find yourself paying an indemnification, meaning compensation for damages or distress. SKIP TO … Nettet14. feb. 2024 · Section 4.3.2 (Use and Disclosure) of this Agreement does not prohibit you from disclosing the terms of this Agreement to the extent required by public disclosure laws applicable to you (“Public Disclosure Laws”), provided that, to the extent permissible, any material legal terms included in this Agreement (e.g., representations and warranties, …
NettetThe meaning of INDEMNIFICATION is the action of indemnifying. the action of indemnifying; the condition of being indemnified; indemnity… See the full definition
Nettet10. des. 2024 · Indemnity insurance is one way to be protected against claims or lawsuits. This insurance protects the holder from paying the full amount of a settlement, even if it is his fault. Many businesses require indemnity for their directors and executives because lawsuits are common. It covers court costs, lawyer’s fees, and settlements. jesus me ama para colorearNettetEX-10.1 2 d387183dex101.htm FORM OF INDEMNIFICATION AGREEMENT Form of Indemnification Agreement . Exhibit 10.1 . HARTE-HANKS, INC. INDEMNIFICATION AGREEMENT . This Indemnification Agreement (this “Agreement”) is made and entered into as of the day of , 20 , by and between Harte-Hanks, Inc., a Delaware corporation … jesus m dovalinaNettetContracts Indemnification Law and Legal Definition. Indemnification is the act of making another "whole" by paying any loss another might suffer. This usually arises … jesus me ama tanto letra