Home > Glossary

Cross Indemnity Agreement

Definition

A form of indemnity that is often used in energy industry and chemical industry contracts. Under cross-indemnity agreements, the indemnification obligation is reciprocal in nature, regardless of fault. Therefore, each party obligates itself to indemnify the other for liabilities arising out of each other's acts or omissions.

Related Terms

Related Products

Commercial Liability Insurance
Insurance Law Essentials
The Additional Insured Book

Navigation

Social Media

User ID: Subscriber Status:Free