Breaking Down Indemnity Clauses
Overview
Indemnity clauses are critical for managing third-party risks, yet they are often misunderstood or improperly negotiated. This Power Lab equips IT procurement professionals with the skills to draft, analyze, and negotiate indemnity clauses that protect their organization while maintaining a balanced approach with vendors.
Participants will explore common indemnity triggers, exclusions, and pitfalls, ensuring they can advocate for terms that align with their organization’s risk tolerance.
Upcoming Events
Who Should Attend?
- Contract Negotiators: Master the art of negotiating fair indemnity terms.
- Risk Managers: Learn to mitigate third-party liability risks.
- Legal Professionals: Build expertise in drafting enforceable indemnity clauses.
Workshop Outcomes
By the end of this Power Lab, participants will:
- Understand Key Indemnity Concepts: Learn the triggers and scope of indemnity clauses.
- Identify Common Pitfalls: Spot problematic language and avoid unenforceable terms.
- Negotiate Balanced Agreements: Develop strategies for negotiating indemnity clauses tailored to real-world scenarios.
What are ICN's Power Labs?
ICN’s Power Labs are a series of interactive, 90-minute workshops designed specifically for IT procurement professionals. Each Power Lab focuses on practical, real-world challenges faced in IT contract management, vendor negotiations, and risk mitigation. With expert-led instruction and hands-on exercises, these workshops deliver actionable skills that participants can immediately apply to enhance their roles and drive organizational success.
Topics and Activities - Agenda
1. Introduction (10 minutes)
- Why indemnity clauses matter in IT contracts.
- Key objectives and risks to avoid.
2. Instruction (20 minutes)
- Types of indemnity clauses (general, IP-related, third-party claims).
- Typical exclusions (gross negligence, willful misconduct).
- Balancing enforceability with practicality.
3. Interactive Lab (50 minutes)
- Scenario #1 – Clause Analysis: Evaluate and revise a poorly drafted indemnity clause.
- Scenario #2 – Risk Negotiation: Role-play negotiations with a vendor to manage liability.
- Group discussion to debrief and share best practices.
4. Wrap-Up and Q&A (10 minutes)
- Summary of key takeaways.
- Practical tips for applying learned skills to current and future contracts.
Master indemnity clauses with confidence. Reserve your spot in this Power Lab today!
