An indemnity is where the University agrees to pay for another party’s liability, loss or damage. There can be more than one indemnity in a contract and they can be in multiple unrelated sections. To find an indemnity, look for words such as: indemnity, indemnification, save or hold harmless, secure against loss or damage, compensate, and reimburse.
The granting of indemnities is restricted by the Guarantees and Indemnities Regulation, passed pursuant to the Financial Administration Act. Please contact the Office of the University Counsel for more information if you wish to have a contract executed that contains an indemnity.