Template:Indemnity description: Difference between revisions

Yes, I do. This is where things have gone awry. Many latter-day [[indemnities]] are not well-crafted at all. It is common for indemnities to catch every contingency under the sun: “any and all losses, costs and damages, howsoever arising, incurred or suffered in diligent performance of the contract”. (An [[indemnified party]] showing uncommon largesse might let the [[indemnifier]] off those losses caused by its own [[negligence, fraud or wilful default]], but that’s another whole story.)

In any case, if you’re asked for something as mad as that, refuse, for it implies your counterpart has not grasped the fundamentals of a commercial bargain: shouldering the losses and costs naturally arising from the diligent performance of contractual obligations — the ordinary vicissitudes of one’s day-to-day commercial existence, that is to say — well, it’s kind of the point. That is why you’re even at the table.  

 

[[Indemnities]] are not meant for that.