INDEMNITY
- AGENCY
The
principal
indemnifies
the agent for any loss or liability that may be suffered
by the agent in the performance of his duties under the agency
agreement. For example, if the agent incurs some liability such as
legal expenses in the performance of his duty he can claim such costs
from the trust account. However, he must provide the principal with a
full account of such monies. There is no such indemnity if the costs
occur outside the agency agreement.