indemnitee
Definition
The indemnitee is the person or company that gets protected from losses or legal claims under an indemnification agreement. Think of it as the party who receives the financial safety net, meaning if something goes wrong, someone else agrees to cover their costs, damages, or legal fees.
Example
If you hire a contractor to work on your property and the contract says the contractor will indemnify you, then you are the indemnitee, so if the contractor accidentally injures someone, the contractor pays for it rather than you.
Watch Out
Being named as an indemnitee sounds great, but that protection is only as good as the other party's ability to actually pay, so always consider whether the person promising to protect you has the insurance or financial resources to back it up.
See which terms appear in your contract?
This definition is for informational purposes only and does not constitute legal advice. Please consult with a licensed attorney for legal guidance.