site stats

Dictionary indemnification

WebFeb 27, 2024 · At its core, an indemnification is a promise to reimburse a person for a loss incurred by that person. Often, the obligation to indemnify is limited to third party claims. Further, there is typically a “defend” component to the indemnity that requires the indemnifying party to take over the defense of the claim on behalf of the indemnified party. 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 …

The Art of Holding Harmless: Indemnification Provisions in …

Webto pay or promise to pay someone an amount of money if they suffer damage or loss: In return for a premium, the underwriter agrees to indemnify the insured against losses … WebSecurity against loss, damage, or penalty; indemnification or compensation for loss or injury sustained. 1914 - Nuttall's Standard dictionary of the English language By Nuttall, P.Austin. A security or pledge by which a person is secured against loss or punishment; compensation. 1874 - Etymological and pronouncing dictionary of the English language pc timer display https://salermoinsuranceagency.com

Indemnity legal definition of indemnity - TheFreeDictionary.com

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 … WebNov 29, 2024 · Indemnifications in legal terms are contractual provisions where one or both parties agree to compensate the other for any harm or loss resulting from damages caused by a third party. Insurance companies may require businesses to indemnify their vendors for liability coverage. 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 accident, … pc timewatch

Indemnify Definition & Meaning - Merriam-Webster

Category:Advanced Indemnification Provision Topics and Drafting Tips

Tags:Dictionary indemnification

Dictionary indemnification

Indemnification - Definition, Meaning & Synonyms

Webindemnify. v. to guarantee against any loss which another might suffer. Example: two parties settle a dispute over a contract, and one of them may agree to pay any claims which may … 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 ...

Dictionary indemnification

Did you know?

WebIndemnity is protection or security against damage or loss, or compensation for damages or money spent. Insurance coverage provides indemnity to a person (or organization) by … WebIndemnity - Wikipedia Indemnity 13 languages Edit Tools Not to be confused with Coprographia. A female Oriental latrine fly ( Chrysomya megacephala) feeds on feces Coprophagia ( / ˌkɒprəˈfeɪdʒiə /) [1] or coprophagy ( / kəˈprɒfədʒi /) …

WebAug 27, 2015 · What is Indemnity. While the term indemnify is a verb, referring to the act of compensating someone for loss, the term indemnity is a noun, referring to the agreement or guarantee to compensate someone in the event loss occurs. Indemnity is commonly included as a clause in contracts in which the actions or mistakes of one party may result … 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 …

WebIndemnification is a contractual obligation by one party to pay or compensate for the losses or damages or liabilities incurred by another party to the contract or by some third person. Black’s Law Dictionary defines hold harmless as … Web1 a : security against hurt, loss, or damage b : exemption from incurred penalties or liabilities 2 a : indemnification sense 1 b : something that indemnifies 3 : fee-for-service usually …

Webnoun Definition of indemnification as in damages payment to another for a loss or injury that insurance company is known to be slow when processing claims for …

WebJan 10, 2012 · INDEMNIFICATION AGREEMENT . THIS AGREEMENT is effective January 10, 2012, between Concho Resources Inc., a Delaware corporation (the “Corporation”), and the undersigned director or officer of the Corporation (“Indemnitee”). ... represent costs or liabilities meeting the definition of “Expenses” herein. ... pc time treeWebindemnify verb [ T ] uk / ɪnˈdem.nɪ.faɪ / us / ɪnˈdem.nə.faɪ / finance & economics formal or specialized to pay or promise to pay someone an amount of money if they suffer damage … pc time wrong windows 10Webindemnity noun [ C or U ] uk / ɪnˈdemnəti / us plural indemnities INSURANCE protection against possible damage or loss, or the money paid if there is damage or loss: … pctimmaia1204jose outlook.comWebApr 12, 2024 · Indemnity is a comprehensive form of insurance compensation for damages or loss. In this type of arrangement, one party agrees to pay for potential losses or … pc time out settingsscss math divWebNov 4, 2024 · 1. The action of compensating for loss or damage sustained. 2. The compensation so made. In terms of the frequency with which those terms occur in … pc time wrongWebDefine Indemnification Assets. means any indemnification right or claim of the Acquired Companies or Related Consolidated Entities recognized as a Current Asset under the Accounting Principles and which represents a claim of Seller or any of the Acquired Companies or Related Consolidated Entities against third parties, but solely to the extent … scs smart watche80h