Indemnification clause
A provision in a contract to compensate for loss or damage incurred by the other party.
Indemnification clauses allocate risk and liability, protecting parties against claims and losses. It's crucial to clearly define the scope of indemnification to avoid unintended liabilities and ensure that risk is appropriately managed throughout the contract lifecycle.
Used in a sentence
Ensure the indemnification clause protects us from third-party claims.
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