From the course: Contracting for Consultants

Unlock the full course today

Join today to access over 22,600 courses taught by industry experts or purchase this course individually.

Provide indemnification

Provide indemnification

From the course: Contracting for Consultants

Start my 1-month free trial

Provide indemnification

“

- Indemnification protects one party from the improper actions of the other. It says that if you violate laws, are negligent, or demonstrate willful misconduct or breach the agreement, you'll protect and defend the client from damages arising from your actions. You're likely much smaller than your client. When they suffer damages due to your actions, those can be huge numbers. Your firm risks losing everything in that event. In some cases, as the owner of the firm, you can be held personally liable for damages. That can ruin you financially. Ask for similar indemnification from your client. If they breach the agreement, violate laws, or are negligent, they should protect you from the consequences of their actions. Try to get them to make this section of the contract bilateral. That means the provisions that apply to one party apply equally to the other. Any time damages are involved in your contract, you should have your attorney involved in reviewing that clause. They'll help you…

Contents