| Vertr. |
The wording 'hold harmless'is often used in US contracts to indicate that the party giving the indemnity will not sue the other party for recovery of its losses (The clause should indicate what the indemnifying party will be responsible for, whether there are any limits on the amount to be paid, what the indemnity covers, whether other persons are covered by the indemnity, and so forth. In the clause below, Party A provides a general indemnity to Party B in respect of any breach of warranties given in the contract. Party A undertakes to indemnify Party B and keep Party B fully indemnified against all losses, liabilities, costs and expenses arising out of the breach of the [above warranties] or out of any claim made by a third party which if substantiated would constitute such a breach.) |
