Meaning of indemnified
WebFrom Longman Business Dictionary in‧dem‧ni‧fy /ɪnˈdemnɪfaɪ/ verb (past tense and past participle indemnified) 1 [ intransitive, transitive] to promise to pay for a financial loss that … WebAug 13, 2024 · Indemnity is defined as "a duty to make good any loss, damage, or liability incurred by another" (Black's Law Dictionary). The term comes from a late Middle English word meaning "unhurt, free from loss." The principles described in the terms "indemnity" and "indemnify" are interrelated so these terms are defined and explained together.
Meaning of indemnified
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Webmade up for. restored. rewarded. balanced. squared. redressed. offsetted. more . “He has to pay the fees of the court, that is money paid out of pocket; but for loss of time the law will not indemnify him.”. WebIndemnification is the act of providing protection or security against potential damages or loss or compensating someone for damages or money spent. Indemnification is the act …
Web1. to secure against future loss, damage, or liability; give security for; insure 2. to compensate for loss, injury, expense, etc; reimburse Collins English Dictionary. Copyright © HarperCollins Publishers Derived forms indemnification (inˌdemnifiˈcation) noun indemnifier (inˈdemniˌfier) noun Examples of 'indemnified' in a sentence indemnified WebTo compensate for loss or damage; to provide security for financial reimbursement to an individual in case of a specified loss incurred by the person. Insurance companies …
WebDec 10, 2024 · Indemnity insurance is one way to be protected against claims or lawsuits. This insurance protects the holder from paying the full amount of a settlement, even if it is his fault. Many businesses require indemnity for their directors and executives because lawsuits are common. It covers court costs, lawyer’s fees, and settlements. WebWhat is indemnification? Indemnification, also referred to as indemnity, is an undertaking by one party (the indemnifying party) to compensate the other party (the indemnified party) …
WebIndemnification can mean that in policies written on an indemnification basis, the insurer reimburses the insured for claims and claim costs already paid by the insured. ... Technically, the insured must not only suffer a loss but must also pay the loss before being indemnified by the insurer. It is also the agreement of one party to assume ...
Web1 : to protect (someone) by promising to pay for the cost of possible future damage, loss, or injury The policy indemnifies [= insures] you against/for any losses caused by fire. [=the … my beloved parents作文Webindemnified; indemnifying 1 : to insure or protect against loss, damage, or injury 2 : to give something in order to make up for loss, damage, or injury indemnify victims of a disaster indemnification -ˌdem-nə-fə-ˈkā-shən noun … how to pay az income taxWebThe meaning of INDEMNIFY is to secure against hurt, loss, or damage. How to use indemnify in a sentence. Synonym Discussion of Indemnify. ... indemnified; indemnifying. … how to pay axis bank credit cardWebTo compensate for loss or damage; to provide security for financial reimbursement to an individual in case of a specified loss incurred by the person. Insurance companies … my beloved sister dramacoolWebDefine indemnifier. indemnifier synonyms, indemnifier pronunciation, indemnifier translation, English dictionary definition of indemnifier. tr.v. in·dem·ni·fied , in·dem·ni·fy·ing , in·dem·ni·fies 1. my beloved spake purcellWebOct 8, 2024 · The person who is covered by the indemnity is known as the indemnified party. An indemnity comes in various forms. For ease of explanation, a goods supplier is the indemnifier, a customer is the indemnified party. ... if there is a breach of contract. Therefore, indemnity clauses are often the focus during contract negotiations. The … my beloved sister season 1 episode 55WebTranslations in context of "to indemnify and keep indemnified" in English-French from Reverso Context: 6.6 You agree to indemnify and keep indemnified 123 Auto Credit. my beloved teacher meaning