Def indemnification

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August undefined, 2024

WebTo indemnify is to insure someone against potential damages or loss or to compensate someone for damages or money spent. Insurance coverage ind e mnifies a person by … WebDefine indemnity. indemnity synonyms, indemnity pronunciation, indemnity translation, English dictionary definition of indemnity. n. pl. in·dem·ni·ties 1. Security against damage, loss, or injury. 2. An exemption from liability for damages resulting from …

Indemnity clause legal definition of Indemnity clause

WebAn indemnification provision, also known as a hold harmless provision, is a clause used in contracts to shift potential costs from one party to the other. In a mutual indemnification, both parties agree to compensate the other party for losses arising out of the agreement to the extent those losses are caused by the indemnifying party's breach ... WebAn indemnification provision is one of the most common and frequently used provisions when negotiating any type of contract, and yet the parties to a contract often don’t … atssa eb

INDEMNIFIED English meaning - Cambridge Dictionary

Webindemnified definition: 1. past simple and past participle of indemnify 2. to pay or promise to pay someone an amount of…. Learn more. WebSome indemnity claims arise by operation of law. For example, the law of agency makes a principal liable to indemnify its agent against liabilities incurred through carrying out duties within the scope of the agent's authority, as described in Practice note, Common law of agency: Duty of principal to pay the agent's expenses and indemnify it against losses. WebOct 28, 2024 · Indemnification means one party agrees to pay losses incurred by another to a third party. 4 min read 1. Indemnification: What is it? 2. Why Is an Indemnity Clause Important? 3. Reasons to Consider … atso koskelan murha

What Is Indemnity Insurance? How It Works and Examples - Investopedia

WebIn 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 … WebIn 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.The duty to indemnify is usually, but not always, coextensive with the contractual duty to "hold harmless" or "save harmless". In contrast, … atssa jobsWebJul 29, 2024 · The indemnity obligation includes a defense obligation. Especially if the scope of the indemnity is beyond your insurance coverage, you should be wary of the inclusion of the term “defend” in an … atssa 2023

"Webindemnification: 1 n an act of compensation for actual loss or damage or for trouble and annoyance Type of: compensation , recompense the act of compensating for ... " - Def indemnification

Def indemnification

Indemnify legal definition of indemnify - TheFreeDictionary.com

WebOct 30, 2024 · Indemnity insurance is an insurance policy designed to protect professionals and business owners when they are found to be at fault for a specific event such as misjudgment. Typical examples of ... WebTừ điển dictionary4it.com. Qua bài viết này chúng tôi mong bạn sẽ hiểu được định nghĩa protection & Indemnity (P&I) là gì.Mỗi ngày chúng tôi đều cập nhật từ mới, hiện tại đây là bộ từ điển đang trong quá trình phát triển cho nên nên số lượng từ hạn chế và thiếu các tính năng ví dụ như lưu từ vựng, phiên ...

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Webindemnified; indemnifying 1 : to insure or protect against loss, damage, or injury 2 : to give something in order to make up for loss, damage, or injury indemnify victims of a disaster indemnification -ˌdem-nə-fə-ˈkā-shən … WebIndemnitee definition, a person or company that receives indemnity. See more.

WebIndemnity is compensation to a party for a loss or damage that has already occurred or to guarantee... indemnity contract. An indemnity contract is an agreement to pay on behalf of another party under specified... indemnitee. The indemnitee is the person or organization that is held harmless in a contract (by the... indemnitor. WebJul 24, 2024 · Indemnification, according to the court, is “an offensive right—a sword—allowing the indemnitee to seek indemnification.” On the other hand, hold harmless is a defensive measure providing “[t]he right not be bothered by the other party itself seeking indemnification.” Under this view, hold harmless shields one party from …

Webthe act of paying or promising to pay someone an amount of money if they suffer damage or loss: They asked for some form of indemnification in case the proposed deal was … WebIndemnify. To compensate for loss or damage; to provide security for financial reimbursement to an individual in case of a specified loss incurred by the person. Insurance companies indemnify their policyholders against damage caused by such things as fire, theft, and flooding, which are specified by the terms of the contract between the ...

WebTo indemnify, also known as indemnity or indemnification, means compensating a person for damages or losses they have incurred or will incur related to a specified …

WebDefinitions of indemnification. noun. an act of compensation for actual loss or damage or for trouble and annoyance. see more. noun. a sum of money paid in compensation for … fz1851WebThe legal definition of indemnification clause is “the obligation of one party to compensate the other party for harm or loss incurred”. In simpler terms, for service based businesses, if something bad happens to a third party during the event you are servicing then this clause tells you who is responsible for paying the resulting damages ... fz1830 lotWebindemnification. noun. Something to make up for loss or damage: amends, compensation, indemnity, offset, quittance, recompense, redress, reimbursement, remuneration, … fz1800r16kf4-s1Webindemnification noun in· dem· ni· fi· ca· tion in-ˌdem-nə-fə-ˈkā-shən Synonyms of indemnification 1 a : the action of indemnifying b : the condition of being indemnified 2 : … atsteekki kulttuuriWebto protect someone against legal responsibility for their actions: He cannot sue, because the government had indemnified the company. The state is required to indemnify employees … fz1914WebJan 10, 2012 · EX-10.1 2 d281186dex101.htm INDEMNIFICATION AGREEMENT, DATED JANUARY 10, 2012 Indemnification Agreement, dated January 10, 2012 . Exhibit 10.1 . INDEMNIFICATION AGREEMENT . THIS AGREEMENT is effective January 10, 2012, between Concho Resources Inc., a Delaware corporation (the “Corporation”), and the … fz19Webindemnity an undertaking by one person to make good losses suffered by another. Frequently confused with guarantee, an indemnity is a primary obligation that is … fz1925