Indemnity - Wikipedia In contract law, an indemnity is a contractual obligation of one party (the indemnitor) to compensate the loss incurred by another party (the indemnitee) due to the relevant acts of the indemnitor or any other party
What Is Indemnity? Meaning, Types, and Examples - LegalClarity An indemnity agreement is a contract in which one party promises to cover another party’s losses from a specific event or claim These agreements show up constantly in business dealings, from construction projects and commercial leases to software licenses and corporate acquisitions
INDEMNITY Definition Meaning | Dictionary. com Indemnity is protection against loss or harm — it is most often used in insurance If you suffer an injury or there's damage to your house, an indemnity makes up for the loss — if it's part of your insurance
What Is Indemnity? | Definition, Meaning Examples Fundamentally, indemnity is protection: the person who has been harmed due to the actions of another user (or even something beyond his control) should be paid In real-world usage, indemnity is a kind of financial backup
indemnity | Wex | US Law | LII Legal Information Institute Indemnity is a type of insurance that covers a wide range of damages and losses In the indemnity clause, one party commits to compensate another party for any prospective loss or damage
Indemnity legal definition of indemnity Recompense for loss, damage, or injuries; restitution or reimbursement An indemnity contract arises when one individual takes on the obligation to pay for any loss or damage that has been or might be incurred by another individual