The interplay-between-indemnification-provisions-and-insurance-clauses-in-contracts-for-goods-and-services

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http://www.slideshare.net/secret/EOsZT3pqwSMUWI

There is much flexibility in drafting terms of indemnity provisions and insurance clauses in contracts for the provision of goods and services. The circumstances unique to the transaction should be considered. For instance, general terms like “losses” and “damages” or “seller” and “buyer” should be defined as accurately as possible. It is important to include the provision that the contract’s indemnity and insurance coverage are the exclusive remedy available to the indemnitee for all claims that may arise. Failure to do so may enable an indemnitee to “sidestep” the contractual indemnity. Provisions should also address the mechanics of how indemnity and defense coverage is provided. 

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