According to Black's Law Dictionary, indemnity is "a duty to make good any loss, damage, or liability incurred by another." It's possible to limit the scope of that duty during contract negotiations.

It makes good business sense to enter into contracts carefully, ensuring that each aspect of the contract accurately details responsibility, deliverability and cost. Many contracts contain an ...

Gregory Jaske, a partner at Olshan Frome Wolosky, provides helpful tips on how businesses can minimize risk by limiting indemnity obligations, outlining common pitfalls to avoid, and offers strategies ...

As a small business owner, you can be exposed to situations in which a client, customer or vendor files a legal claim that you must answer. While you may be conducting business in an industry in which ...

Indemnity is one party's promise to protect another party from loss. This is the first of two articles that will analyze key indemnity issues as they relate to IT contracts. When negotiating a ...

In everyday language, Indemnity is equivalent to money paid to cover actual damage caused by accidents, theft, legal claims, professional mistakes or other covered events.

Dr. JeFreda R. Brown is a financial consultant, Certified Financial Education Instructor, and researcher who has assisted thousands of clients over a more than two-decade career. She is the CEO of ...