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INDEMNIFICATION AGREEMENT FORM Ryerson University Ryerson

INDEMNIFICATION AGREEMENT FORM Ryerson University Ryerson

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hey this is elizabeth potts weinstein and today we're going to talk about indemnifications what are they why are they important and what should you watch out for what does indemnification mean or indemnify ing to merriam-webster it is about securing or making compensation to another person or entity for a hurt loss or damage so what we're talking about is kind of like insurance what you're doing is someone else is damaged in some way and you're making up for it you're compensating them for that hurt loss or damage so why should you have an indemnification clause in a contract why does anyone want one the idea here is that one side versus the other has information has control over something that's happening in this transaction in this business deal in this situation but the other side doesn't have and it makes sense it's just fair for the side that has control for the side that has the information to be responsible if something goes wrong for example let's say you hire someone to write

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