Indemnification 2025

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The Indemnification Agreement outlines the terms under which one party agrees to indemnify and defend the other party against claims arising from a pending litigation. It specifies obligations for legal defense, confidentiality of the agreement, conditions for settlements, and provisions for default. The agreement is made without admission of liability and requires written consent for certain defenses.

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What do you mean by indemnification?

Meaning of indemnification in English 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.

What is the purpose of an indemnity?

Indemnity is a comprehensive form of insurance compensation for damage or loss. It amounts to a contractual agreement between two parties in which one party agrees to pay for potential losses or damage caused by another party.

What does indemnity mean in simple terms?

This clause is often used when one party is at a greater risk of loss and wants to protect itself. For example, a manufacturer may include a one-sided indemnification clause in a contract with a distributor to protect itself from any losses resulting from the distributors actions.

What is indemnity in simple words?

The word indemnity finds its roots in the Latin word indemnis, which stands for unhurt or free from loss. Hence, indemnities are also referred to as hold harmless agreements. Indemnities are contractual agreements that provide compensation for losses, damages, or liabilities sustained by another party.

What does it mean if you indemnify someone?

To 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, incident, or event.

What best describes indemnity?

In its widest sense, indemnity means protection against, or compensation for, a loss or liability. Some indemnity claims arise by operation of law.

What is one example of indemnity?

The most common example of indemnity in the financial sense is an insurance contract. For instance, in the case of home insurance, homeowners pay insurance to an insurance company in return for the homeowners being indemnified if the worst were to happen.

Indemnification 2025

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What do you mean by indemnification?

What is the purpose of an indemnity?

What does indemnity mean in simple terms?

What is indemnity in simple words?

What does it mean if you indemnify someone?

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What best describes indemnity?

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Indemnification 2025

Here's how it works

How to modify Indemnification online

Complete this form in 5 minutes or less

Got questions?

What do you mean by indemnification?

What is the purpose of an indemnity?

What does indemnity mean in simple terms?

What is indemnity in simple words?

What does it mean if you indemnify someone?

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People also ask

What best describes indemnity?

What is one example of indemnity?

Related links

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