Sample Indemnity Clause in Service Agreement
2023年5月19日
When drafting a service agreement, one of the most important clauses to include is an indemnity clause. This clause serves to protect both parties involved in the agreement from potential legal and financial liabilities that may arise in the course of the contract.
An indemnity clause is a provision in a service agreement that specifies who will be responsible for any losses, damages, or legal fees that may result from any claims or lawsuits arising from the services provided. It is important to note that the indemnity clause does not shift all liabilities from one party to another. Instead, it allocates risks and responsibilities between the parties in a fair and reasonable manner.
Here is a sample indemnity clause that can be included in a service agreement:
“Indemnification. Both parties agree to indemnify and hold the other harmless against any and all claims, damages, losses, expenses, or liabilities, including reasonable attorneys’ fees, arising out of or related to the performance of the services provided under this agreement. This indemnification shall extend to any third-party claims arising from or connected with the performance of the services specified in this agreement.”
In this sample indemnity clause, both parties agree to indemnify each other against any claims, damages, losses, expenses, or liabilities arising out of or related to the services specified in the agreement. The clause also extends to third-party claims that may arise from the services rendered.
It is important to note that the language used in an indemnity clause should be carefully crafted with the assistance of a legal professional. The clause should be as specific and comprehensive as possible to avoid any misunderstandings or loopholes that may arise in the future.
In conclusion, including an indemnity clause in your service agreement is essential to protect both parties from potential legal and financial liabilities. By specifying who will be responsible for any losses, damages, or legal fees that may result from any claims or lawsuits, the indemnity clause can provide the necessary reassurance needed to enter into a successful and productive business relationship.