# Reps & warranties

The seller's statements of fact, with indemnity if they prove false.

They are your main legal recourse after the money moves: when a stated fact turns out false, the [indemnification](https://searchspheresource.com/glossary/indemnification) tied to them is how you claw the loss back. Their scope, the [survival period](https://searchspheresource.com/glossary/survival-period), and the basket and cap that gate a claim are worth real negotiation, because a rep that expires in six months protects the seller far more than it protects you.

In numbers: A seller reps that the $2,100,000 of revenue is real and the equipment works. When the reps turn out false, say $200,000 of it was already-canceled contracts, the indemnification machinery (basket, cap, survival period) decides how much of the loss comes back.

Source: https://searchspheresource.com/glossary/reps-and-warranties
Not dated: A definition is editorial: what a term means, why it matters, and an example. None of it reads a source that can go stale, so there is no date to take and a stamped one would be the build time wearing a costume.

Site index for machines: https://searchspheresource.com/llms.txt