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Updated 11 months ago on . Most recent reply
Indemnity in a Buyer’s agreement
Hello,
I have a question about an indemnification clause in a buyer’s agreement. A friend of mine recently got under contract and his agent wants him to sign a buyer’s agreement. He is ok with the exclusivity portion, after all the agent deserves security that they will get paid for their work, but the indemnity clause looks a bit over-the-top.
The clause is:
”Indemnifying and holding Broker harmless from and against all losses, damages, costs and expenses of any kind, attorney's fees, and from liability to any person, that Broker incurs because of acting on Buyer's behalf”
I haven’t seen anything like it before. Is this common? Does anyone have any suggestions for modifications to better cover both parties?
Thank you in advance.