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 HOLD HARMLESS AGREEMENT INDEMNIFICATION AGREEMEN 2021-2025

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[Music] welcome to negotiating indemnity clauses my name is Michael Haley I'm a member at the Patterson law firm in Chicago I practicing primarily in Illinois and Wisconsin my name is Bruce Baldwin I am a partner in the law firm of wolf Baldwin and Associates in Pottstown Pennsylvania outside of Philadelphia and my practice is focused on the business representation and business litigation and I'll get us started this morning with some indemnity basics first place to start is what is an indemnity and who needs it so an indemnity ing to Black's Law Dictionary is a duty to make good any loss damage or liability incurred by another and the purpose of an indemnity clause is fundamentally shifting risk from one party to another what it doesn't get a definition from a Northern District of Illinois cases is to require the indemnity or to hold the indemnity harmless from costs in connection with a particular class of claims why would you choose to indemnify someo

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