What you should consider when negotiating indemnities in a contract
An indemnity is a promise or guarantee to compensate someone for loss or damage suffered.
Cash flow is the lifeblood of business. So if a disaster like a fire, burst waterpipe, or legal proceedings against you halts your operations, your business could fail.
Insurance is there to help you cover your costs if things go wrong. But if you’re underinsured, you may not be able to cover the running costs of your business while you’re getting back on your feet.
When it comes to securing cashflow, many businesses make these two common mistakes, leaving them underinsured – and vulnerable.
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Photo by Kelly Sikkema on Unsplash
An indemnity is a promise or guarantee to compensate someone for loss or damage suffered.
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