Dear customer, upon your request Indemnity Company Definition were found the following resources. Our team makes effort to make you happy with the search on our site ninan.org

Indemnity legal definition of indemnity - Legal Dictionary

Indemnity. Recompense for loss, damage, or injuries; restitution or reimbursement. An indemnity contract arises when one individual takes on the obligation to pay for any loss or damage that has been or might be incurred by another individual. The right to indemnity and the duty to indemnify ordinarily stem from a contractual agreement, which generally protects against liability, loss, or damage.…

Learn About Indemnity Agreements

Jun 11, 2019 · To explain an indemnity agreement, it is first necessary to define the term "indemnity." Indemnity is defined as "a duty to make good any loss, damage, or liability incurred by another (Black's Law Dictionary). Indemnity has the general meaning of "hold harmless;" that is, one party holds the other harmless for some loss or damage.…

What is indemnity? definition and meaning ...

indemnity: Undertaking given to compensate for (or to provide protection against) injury, loss, incurred penalties, or from a contingent liability. A shipping company, for example, will ask for a bank's indemnity for releasing a shipment to a consignee who has lost original shipping documents. The bank in turn will require the consignee to ...…