Indemnity Agreement

June 27, 2013

What is an Indemnity Agreement?

A NJ attorney can help companies draw up an indemnity agreement. When an indemnity agreement is set in place, financial responsibility is decided.  Indemnification according to Black’s Law Dictionary, is “a duty to make good any loss, damage or liability incurred by another.” In general it means to “hold harmless” such that one party will hold another harmless in the case of damage or loss. Therefore, indemnification is the act of not being held liable, or of being protected from […]