Hi thanks for joining us and welcome to this session on indemnities my name is mike cuthbertson and i'm joined by my colleague anita severa parliament anita and i are senior associates in the commercial ipn technology team at travis smith and as such we often advise clients about indemnity clauses and commercial contracts which we draft or review for them this session is planned to take about 45 minutes and the aim in that time is to explain what an identity clause is and some of the perceived and actual benefits associated with them why they can be useful how to get them right if you do decide you should include one in your contract and how worried to be and how to limit that worry if you're required to give an indemnity indemnities are often slightly misunderstood and they're often seen as a massive commercial point when frankly sometimes they really shouldn't be used in the right way though indemnities can be very valuable as a way of addressing identified risks in a contract we'll also talk you through a few practical tips on how to make sure you're achieving what we what you intend so let's have a look at the example on the slide you often see this kind of wording in contracts but what does it mean and does the me use the word indemnifies actually add anything so the example on the slide says x hereby indemnifies y for all losses that y suffers as a result of a breach by x of its obligations under this contract so the bulk of the session is going to focus on the function of an indemnity clause and some of the real and perceived advantages of an indemnity claim over a simple breach of contract claim...
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About Indemnification Undertaking By Parent Symbiosis
Indemnification Undertaking by Parent Symbiosis is a legal agreement that is created to protect a subsidiary company from lawsuits, damages, and legal complications that arise as a result of the subsidiary's activities. In this agreement, the parent company assumes the responsibility for all the liabilities that arise as a result of the actions or omissions of the subsidiary. This agreement is generally required when a subsidiary company is involved in high-risk activities such as manufacturing, construction, or any other activity that is likely to result in legal proceedings. This agreement provides protection to the subsidiary by shifting the financial burden of any lawsuit or legal liability to the parent company. The Indemnification Undertaking by Parent Symbiosis agreement is typically necessary for ventures, collaborations, joint ventures, and mergers and acquisitions to help safeguard all parties involved from any potential legal claims that may arise from these agreements. This legal document is essential for both the parent company and the subsidiary company as it acts as a layer of protection and helps secure their financial status.
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