Meaning of indemnified
WebOct 30, 2024 · Indemnity is a comprehensive form of insurance compensation for damages or loss. In a legal sense, it may also refer to an exemption from liability for damages. The insurer promises to make the... 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 ...
Meaning of indemnified
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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". WebDefine 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.
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 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) …
WebDefinition of indemnify as in to compensate to provide (someone) with a just payment for loss or injury the company generously indemnifies workers who are injured on the job … 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 …
Webindemnified See definition of indemnified on Dictionary.com as in paid as in repaid synonyms for indemnified Compare Synonyms compensated salaried recompensed …
Webtr.v. in·dem·ni·fied, in·dem·ni·fy·ing, in·dem·ni·fies. 1. To protect against damage, loss, or injury; insure. 2. To make compensation to for damage, loss, or injury suffered. [Latin … the weather channel canada halifaxWebAug 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 … the weather channel cast 2018WebOct 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 … the weather channel cd juarezWeb1 : 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 … the weather channel cast and crew 2021WebSep 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 ... the weather channel careersWebindemnify 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. the weather channel chatsworth gaWebindemnify / ( 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; … the weather channel chesapeake va