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    GLOSSARY

    Indemnification

    Indemnification is a contractual promise to protect another party from specified claims, losses, or liabilities, often involving third-party claims.

    Why it matters

    The provision should identify the covered claims, who controls the defense, how settlements are approved, what cooperation is required, and how indemnity relates to the limitation of liability. Broad wording can shift risk far beyond the commercial value of the deal.