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Indemnification Toolkit
Practical Law Toolkit w-020-4323 (Approx. 8 pages)
Indemnification Toolkit
by Practical Law Commercial Transactions
| Maintained • USA (National/Federal) |
A set of resources designed to help parties minimize risk in drafting and negotiating indemnification provisions in commercial transactions.
Indemnification provisions are used in most commercial contracts to allocate risk and exposure, particularly to third-party claims, when parties breach or fail to perform their obligations in an agreement. If a contract does not contain a properly drafted indemnification clause, the parties may suffer unwanted consequences, such as:
- A breaching party being unable to cap or reduce its liability.
- A non-breaching party being unable to obtain various kinds of reimbursement or to be made whole.
The Indemnification Toolkit is a collection of links to continuously maintained resources designed to help counsel:
- Draft and negotiate indemnification clauses.
- Minimize risk.