indemnity

Warranties and Indemnities-what you need to know

by

You will encounter warranties and indemnities in the vast majority of contracts you will be involved in, including for the purchase of your first home or car. The main objective of warranties and indemnities is to allocate rise between the parties, usually a vendor and purchaser. The vendor/seller will look to restrict the scope of … Read more

What Is an Indemnity? The Essentials of Indemnities

by

An indemnity is a contractual term which promises to reimburse another party in respect of a loss or damage. The only party indemnified is the one that is identified as the beneficiary of the indemnity. If the benefit of that indemnity is to be transferred to another party it must be done formally-for example with … Read more