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In reality it does nothing if the party that's going to indemnify you does not have funds to do so. You are much better getting insurance if you really think th
by devoply 10y ago
In reality it does nothing if the party that's going to indemnify you does not have funds to do so. You are much better getting insurance if you really think there is a risk of something like this happening to you. There is a much greater level of protection than a mere clause in a contract. As a contractor, you should never agree to such a clause unless you are a big company capable of covering such a clause. If you a contractor put in such a position, go get insurance and make the company putting in the clause pay for it. That's the cost of doing business with them.
- 500ferrets 10y agoWhat's involved in getting this type of insurance? Do you just fork over some cash to the insurer or is there a vetting process?
- devoply 10y agoThe insurance company usually looks at the contract to decide. They don't care that much though. It's really a question about how much coverage you need in terms of price. And it's not that expensive. A few hundred bucks will buy you multi-million dollar protection.
- 500ferrets 10y agoThanks.
- deleted 10y ago[deleted]