Anonymous

what is the contract of indemnity?

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Ray Dart answered

it might be anything. Sometimes a contract will specify indemnification in the event of material loss of some sort.

An example might be for one party to the contract to be required to pay a sum in compensation to the other party in the event of the contract resulting in a commercial failure.

But, as I said at the start, you need to be more specific about the contract concerned.

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