TELESEMINAR: Indemnification and Hold Harmless Provisions in Business Agreements – A National Perspective
November 26, 2013
12:00 – 1:00 p.m.
1.00 MCLE hours
Identifying, assessing and controlling risk – these are essential tasks of all business transactions. The risk may arise from unforeseen violation of a third-party contract or a violation of law, performance risk or some form of financial risk. A party at risk may agree to enter a transaction only if the other party agrees to hold them harmless from any damage or indemnify against one of the risks maturing into full-fledged liability. Indemnification agreements are intricate documents that carefully outline what risks are indemnified, what is excluded from the indemnity, and how claims for indemnification can be made. This program will provide you with a practical guide to the major elements of indemnification agreements and hold harmless provisions, including scope, exculpatory language, and procedural considerations.
- Understanding and drafting indemnification agreements
- Statutory and case law framework of indemnification
- Differences between first and third party indemnification – and implications for drafting
- Exculpatory clauses, allocation of costs and exclusions
- Enforceability, triggering indemnity and procedures for making a claim
- Reciprocal indemnification agreements
Keith J. Berets, Cooley, LLP, Colorado