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- Dictionaryindemnification/ɪnˌdɛmnɪfɪˈkeɪʃn/
noun
- 1. compensation for harm or loss: "the plaintiff sought indemnification for the cost of the suit against the corporation"
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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.
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.
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.
1. : to secure against hurt, loss, or damage. 2. : 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 commonly used in legal contracts to secure protection against being sued or held responsible for an accident. Indemnification can also refer to the state of being indemnified, or to the actual compensation paid.
verb (used with object) , in·dem·ni·fied, in·dem·ni·fy·ing. to compensate for damage or loss sustained, expense incurred, etc. Synonyms: repay, reimburse, recompense. to guard or secure against anticipated loss; give security against (future damage or liability). indemnify.
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.
an amount of money that is paid to somebody because of the damage or loss that they have suffered. Are they entitled to indemnification? Check pronunciation: indemnification. Definition of indemnification noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
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.
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...
