Indemnity Agreement
/ɪnˈdɛm.nɪ.ti əˈɡriː.mənt/
Definitions
- (n.) A contract in which one party agrees to compensate another for losses or damages specified in the agreement.
The indemnity agreement protected the company against claims arising from product defects.
Forms
- indemnity agreement
- indemnity agreements
Related terms
See also
Commentary
Ensure clear scope and extent of indemnity are defined; ambiguity can lead to disputes over coverage and enforceability.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.