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CERTIFICATES OF INSURANCE AND CONTRACTUAL INDEMNIFICATION: How Reliable Are They and What Can Be Done to Maximize the Protection They Afford JEFFREY J. VITA Same Sternberger & Vita, P.C. RICHARD P.
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What is contractual indemnification?
Contractual indemnification is the act of one party agreeing to compensate or reimburse the other party for certain losses or damages that may arise from the contract.
Who is required to file contractual indemnification?
Usually both parties involved in a contract are required to include a contractual indemnification clause in their agreement.
How to fill out contractual indemnification?
To fill out contractual indemnification, parties must clearly outline the scope of coverage, the types of claims covered, the indemnification amount, and any other specific terms and conditions.
What is the purpose of contractual indemnification?
The purpose of contractual indemnification is to allocate risk between parties and protect them from potential losses or damages that may occur during the contract.
What information must be reported on contractual indemnification?
Information such as the parties involved, the terms of indemnification, the duration of coverage, and any specific conditions or limitations must be reported on contractual indemnification.
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