- Who is asking you to indemnify them? Most often you will be asked by your client to indemnify them. Sometimes a third party may ask.
- Why are you being asked to indemnify? Determining the answer may provide information in order to suggest an alternative that is acceptable to all parties.
Indemnification and hold harmless clauses dictate the degree of liability of each party and the extent that each party takes on or shifts risk. Certain courts have found that hold harmless is not distinct and is the same as indemnification, while others have found the duty to hold harmless is broader than indemnification, as it also requires protection against liability.
No-Cost In-House Expertise Utilize our in-house specialists who have an average of 16 years of experience in risk management and average of over 20 years of experience in public and private practice per individual. CPAs can call a General Loss Prevention hotline as well as specialized hotlines focused on the following areas:
- Accounting & Auditing