WebNov 20, 2007 · In fact, having made a claim under the indemnity by serving written notice, the innocent party would then have a further 6 years from that date within which to bring legal proceedings to enforce the indemnity. I believe in most instances parties granting indemnities are not adequately advised of this potential impact and the extended period … Indemnification, also referred to as indemnity, is an undertaking by one party (the indemnifying party) to compensate the other party (the indemnified party) for certain costs and expenses, typically stemming from third-party claims. Indemnification can also cover direct claims, which are claims or … See more Indemnification clauses allow a contracting party to: 1. Customize the amount of risk it is willing to undertake in each transaction and with every counterparty 2. Protect itself from damages and lawsuits that are more efficiently … See more A typical indemnification clause consists of two separate and distinct obligations: an obligation to indemnify, and an obligation to defend. See more For the indemnifying party, the obligation to defend consists of both: 1. An obligation. The indemnifying party must: 1.1. Reimburse paid defense costs and expenses 1.2. Make advance payment for unpaid defense costs … See more
What Is Indemnity Insurance? How It Works and Examples - Investopedia
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What Does By, Through Or Under Means Here? - englishforums.com
WebDec 14, 2024 · Under Colorado’s narrow form anti-indemnity statute, an indemnitor in a construction contract cannot be held responsible for damages caused by the indemnitee or by the indemnitee’s agents. Colorado Revised Statute § 13-21-111.5(6). WebNov 23, 2008 · Sounds possible that the city arranged for non-city employees to do it. Anyway, lawyers like to write with what seems to be repetition and redundancy. These are two passive constructions. I should have said sometimes depending on the context. By and through can both mean: with the use or help of; through. WebApr 12, 2024 · Indemnity is a comprehensive form of insurance compensation for damages or loss. When the term indemnity is used in the legal sense, it may also refer to an … park express light haulage