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- DictionaryIn·dem·ni·ty/inˈdemnədē/
noun
- 1. security or protection against a loss or other financial burden: "no indemnity will be given for loss of cash"
Jul 15, 2024 · Indemnity is an important element of contracts because it is designed to punish a party who breaches the contract. Learn about the different types of indemnity and why they're essential.
- Tami Kamin Meyer
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What does indemnity mean?
What is an indemnity contract & how does it work?
What is an indemnity clause?
What does an indemnity cover?
compensation for damage or loss sustained. something paid by way of such compensation. protection, as by insurance, from liabilities or penalties incurred by one's actions. legal exemption from penalties attaching to unconstitutional or illegal actions, granted to public officers and other persons. indemnity.
indemnity. noun. /ɪnˈdemnəti/. /ɪnˈdemnəti/. (plural indemnities) (formal or law) [uncountable] indemnity (against something) protection against damage or loss, especially in the form of a promise to pay for any damage or loss that happens. an indemnity clause/fund/policy. indemnity insurance.
Define indemnity: a promise to pay for the cost of possible damage, loss, or injury—usage, synonyms, more.
indemnity definition: 1. protection against possible damage or punishment 2. money paid or promised to you if something…. Learn more.
Protection provided against any potential harm, loss, or damage. An exemption that prevents a person from suffering legal consequences or liabilities. A specific form of compensation that offers protection or reimbursement. How to use "indemnity" in a sentence.
The meaning of INDEMNITY is security against hurt, loss, or damage. How to use indemnity in a sentence.