Home > Glossary

Contract Repudiation Indemnity

Contract Repudiation Indemnity

Definition

Contract Repudiation Indemnity — provides coverage for economic losses arising out of the unilateral cancellation of a contract as a result of direct or indirect actions of a foreign government or its agents under circumstances in which the insured is not in breach of contract. The coverage is usually purchased by importers, exporters, and contractors.

Related Products