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What is an example of indemnification clause?

Example 1: A service provider asking their customer to indemnify them to protect against misuse of their work product. Example 2: A rental car company, as the rightful owner of the car, having their customer indemnify them from any damage caused by the customer during the course of the retnal.

What does indemnity mean in simple terms?

Put simply, indemnity is a contractual agreement between two parties, where one party agrees to pay for potential losses or damages claimed by a third party.

What does the word indemnity meaning in English?

noun, plural indemnities. protection or security against damage or loss. compensation for damage or loss sustained. something paid by way of such compensation. protection, as by insurance, from liabilities or penalties incurred by ones actions.

What does indemnity mean?

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 damages caused by another party.

What does it mean to indemnify against?

transitive verb. To indemnify someone against something bad happening means to promise to protect them, especially financially, if it happens. [formal] They agreed to indemnify the taxpayers against any loss.

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