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- Dictionaryindemnification/ɪnˌdɛmnɪfɪˈkeɪʃn/
noun
- 1. compensation for harm or loss: "the plaintiff sought indemnification for the cost of the suit against the corporation"
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INDEMNIFICATION definition: 1. the act of paying or promising to pay someone an amount of money if they suffer damage or loss…. Learn more.
indemnification. 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.
to pay or promise to pay someone an amount of money if they suffer damage or loss: indemnify someone against something In return for a premium, the underwriter agrees to indemnify the insured against losses covered by the insurance.
Indemnification is commonly used in legal contracts to secure protection against being sued or held responsible for an accident. Indemnification can also refer to the state of being indemnified, or to the actual compensation paid.
1. : to secure against hurt, loss, or damage. 2. : to make compensation to for incurred hurt, loss, or damage. indemnifier. in-ˈdem-nə-ˌfī (-ə)r. noun. Synonyms. compensate. recompense. recoup. remunerate. requite. satisfy. See all Synonyms & Antonyms in Thesaurus. Choose the Right Synonym for indemnify.
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 U.S. Department of Agriculture provides crop insurance for the indemnification of farmers whose crops are destroyed. law specialized.
Indemnifications in legal terms are contractual provisions where one or both parties agree to compensate the other for any harm or loss resulting from damages caused by a third party. Insurance companies may require businesses to indemnify their vendors for liability coverage.
2 meanings: 1. to secure against future loss, damage, or liability; give security for; insure 2. to compensate for loss,.... Click for more definitions.
an amount of money that is paid to somebody because of the damage or loss that they have suffered. Are they entitled to indemnification? Check pronunciation: indemnification. Definition of indemnification noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
indemnify 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. Word Origin. See indemnify in the Oxford Advanced American Dictionary.
