Indemnifiable

Adjective describing a situation or entity that is capable of being indemnified, or compensated for harm, loss, or liability. In legal terms, it refers to parties or situations protected under an indemnity clause, often found in contracts, where one party agrees to pay for the losses of another, therefore providing a safeguard against various risks. Such agreements can foster trust between parties engaged in transactions or collaborations.

Indemnifiable meaning with examples

• In a construction contract, the indemnifiable clauses ensure that the contractor will be financially protected against damages that may arise from unanticipated circumstances during the project. This gives them the confidence to move forward without excessive worry about unforeseen liabilities.
• The indemnifiable nature of the insurance policy reassured the business owner, knowing that any claims related to employee accidents would be covered. This allowed the owner to focus on growth rather than the fear of potential losses that could arise from workplace incidents.
• During the negotiations of the merger, both parties insisted on including indemnifiable terms to protect against future lawsuits that could emerge from previous dealings. This precaution was essential to maintain financial stability and shareholder confidence.
• The event organizer was pleased to learn that the venue had an indemnifiable agreement, ensuring that they would not be held liable for incidents caused by the venue itself. This greatly reduced the risk associated with hosting large gatherings.
• Before signing the lease, the tenant carefully reviewed the indemnifiable provisions included in the contract, ensuring that they had legal protection should any claims arise during their occupancy. This level of scrutiny was necessary for their peace of mind.