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.

“Let’s leave that to the lawyers.” It’s a familiar refrain that I hear often as contract negotiations drag on between parties. After the primary deal points in a contract have been agreed upon, many ...

When interpreting an indemnity provision, whether in the articles of incorporation, bylaws or a separate agreement, the first question might be what does “indemnity” mean? Etymologically, “indemnity” ...

What is Indemnity: From health insurance claims to business contracts and day‑to‑day financial decisions, indemnity is one of those concepts that quietly protects people without them even noticing. It ...

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 ...

If you’ve ever bought a property or entered into a business contract, chances are that you’ve come across the term 'indemnity'. A letter of indemnity is often used in property as an important ...

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 ...

Alice Zhang is an Editor with Investopedia. She works on stories about business and impact investing. She is a Certified VITA Advanced Tax Preparer. Katrina Ávila Munichiello is an experienced editor, ...