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the 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 blocked. The government has allocated large sums for the indemnification of farmers whose crops are destroyed. law specialized.
Feb 25, 2024 · Indemnity is a comprehensive form of insurance compensation for damage or loss. In an indemnity arrangement, one party agrees to pay for potential losses or damage caused by another...
1. a. : the action of indemnifying. b. : the condition of being indemnified. 2. : indemnity sense 2b. Synonyms. compensation. damages. indemnity. quittance. recompense. recoupment. redress. remuneration. reparation. reprisal (s) requital. restitution. satisfaction. See all Synonyms & Antonyms in Thesaurus. Examples of indemnification in a Sentence.
to pay or promise to pay someone an amount of money if they suffer damage or loss: indemnify someone against something In return for a premium, the underwriter agrees to indemnify the insured against losses covered by the insurance.
: to make compensation to for incurred hurt, loss, or damage. indemnifier. in-ˈdem-nə-ˌfī (-ə)r. noun. Synonyms. compensate. recompense. recoup. remunerate. requite. satisfy. See all Synonyms & Antonyms in Thesaurus. Choose the Right Synonym for indemnify.
Indemnification is the act of providing protection or security against potential damages or loss or compensating someone for damages or money spent.
Definition of indemnification noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
It is the state wherein one is compensated for loss or damage. How to use "indemnification" in a sentence. The contract included a clause about indemnification in case of any damages caused during the lease period. The insurance company's indemnification covers any accident-related costs.
noun. the act of indemnifying; state of being indemnified. something that serves to indemnify; compensation. Synonyms: indemnity, reparation, amends, payment. Discover More. Other Words From. in·dem·nif·i·ca·to·ry [ in-dem-, nif, -, uh, -k, uh, -tawr-ee, -tohr-ee], adjective. pre in·dem ni·fi·ca tion noun. Discover More. Word History and Origins.
indemnify somebody (against something) to promise to pay somebody an amount of money if they suffer any damage or loss. The contract indemnifies them against loss of earnings. Want to learn more?
