Meaning of indemnified

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WebJul 21, 2024 · What Is Indemnification? When an indemnification clause is inserted into a contract, it is meant to transfer risk between the contracted parties. In most cases, these clauses are used to make sure that a potential loss will be compensated. WebMay 5, 2024 · By Taylor Brown – May 5, 2024. For many reasons, one of the most contentious terms in any contract negotiation tends to be an indemnity clause. First, it’s an explicit definition of liability once fault is determined, and may even impose obligations before any formal determination of fault. Second, the liability impositions may have a ...

In Law, What Does "Indemnify" Mean? (with pictures)

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 policy promises that if fire destroys things that you own, you will be … WebIndemnity As Applied to Insurance Claims. A common example of indemnification happens with regard to insurance transactions. This often happens when an insurance company, … cockroach average size

Indemnified - definition of indemnified by The Free …

WebThe meaning of INDEMNIFY is to secure against hurt, loss, or damage. How to use indemnify in a sentence. Synonym Discussion of Indemnify. ... indemnified; indemnifying. … WebSep 16, 2011 · “Indemnified Party” has the meaning set forth in Section 6(c) of this Agreement. ... An Indemnified Party shall have the right to employ separate counsel in any such Proceeding and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party or Parties unless: (1) the ... 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 … cockroach as a spirit animal

Indemnify Definition & Meaning Dictionary.com

Indemnification Definition & Meaning - Merriam-Webster

WebJan 28, 2024 · Common indemnified losses include attorneys’ fees and costs (whether or not the contract includes a duty to defend), losses, expenses, costs, damages, fines, and penalties. 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 cockroach average weightWebIndemnification 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 … call of duty warzone config file

"Web1 day ago · The word “consumer” is the fulcrum of the Act. Since the Act hinges on the twin concepts of defect in goods or any deficiency in service, a consumer is one who buys any goods or hires any service. The term “consumer” has, thus, been defined to mean a person who is –. (a) a buyer, or. " - Meaning of indemnified

Meaning of indemnified

SC defines consumer & commercial purpose under Consumer …

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 of the indemnitor or any other party. The duty to indemnify is usually, but not always, coextensive with the contractual duty to "hold harmless" or "save harmless". 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 …

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WebTranslations 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. WebOct 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 …

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) … Webindemnity. an undertaking by one person to make good losses suffered by another. Frequently confused with guarantee, an indemnity is a primary obligation that is enforceable irrespective of whether the beneficiary could sue the person responsible for causing the loss. On the other hand, a guarantee is a secondary obligation to pay a specified ...

Webindemnify somebody (for something) to pay somebody an amount of money because of the damage or loss that they have suffered The tenant is legally required to indemnify the landlord for any damage caused to the property. 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 ...

WebIndemnified means to indemnify, exonerate and hold harmless under this Deed, and shall include the right to receive Expense Advances; other capitalized forms of this defined term shall mean the appropriate form of this definition. Sample 1 Sample 2 Sample 3 Based on 8 documents Remove Advertising call of duty warzone crackeadoWebAug 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 … cockroach awareness dayWebDefine 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. cockroach areaWebindemnification noun in· dem· ni· fi· ca· tion in-ˌdem-nə-fə-ˈkā-shən Synonyms of indemnification 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 call of duty warzone crossplay pc xboxWebindemnify / ( ɪnˈdɛmnɪˌfaɪ) / verb -fies, -fying or -fied (tr) to secure against future loss, damage, or liability; give security for; insure to compensate for loss, injury, expense, etc; … call of duty warzone crossplayWebindemnified See definition of indemnified on Dictionary.com as in paid as in repaid synonyms for indemnified Compare Synonyms compensated salaried recompensed … cockroach autotroph or heterotrophWebApr 12, 2024 · indemnify in American English. (ɪnˈdɛmnɪˌfaɪ ) verb transitive Word forms: inˈdemniˌfied or inˈdemniˌfying. 1. to protect against or keep free from loss, damage, etc.; … cockroach baccarat