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How do you write an indemnification clause?

Each party hereby agrees to indemnify, defend, and hold the other party harmless from any and all claims, demands, costs, liabilities, losses, expenses and damages (including reasonable attorneys' fees, costs, and expert witnesses' fees) arising out of or in connection with any claim that, taking the claimant's ...

What is indemnification in real estate?

Indemnify. As a general rule of agency, the principal must compensate an agent for loss or damage incurred in carrying out lawful acts. Indemnity also extends to reimbursement for expenses incurred.

What is an indemnification clause?

If you are the indemnified party, an indemnification clause is simply a promise by the other party to cover your losses if they do something that causes you harm or causes a third party to sue you. The key words are \u201cindemnify\u201d, \u201chold harmless\u201d, and \u201cdefend\u201d.

What is indemnity example?

Definition and examples. Indemnity is compensation paid by one party to another to cover damages, injury or losses. ... An example of an indemnity would be an insurance contract, where the insurer agrees to compensate for any damages that the entity protected by the insurer experiences.

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