What Does Contract Repudiation Indemnity Mean?

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What does Contract Repudiation Indemnity mean? Read on to discover the definition & meaning of the term Contract Repudiation Indemnity - to help you better understand the language used in insurance policies.

Contract Repudiation Indemnity

Contract Repudiation Indemnity

Provides coverage for economic losses arising out of the unilateral cancellation of a contract as a result of direct or indirect actions of a foreign government or its agents under circumstances in which the insured is not in breach of contract. The coverage is usually purchased by importers, exporters, and contractors.

We hope the you have a better understanding of the meaning of Contract Repudiation Indemnity.

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