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” ...

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 ...

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, ...

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 ...