Indemnity - Wikipedia In 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 " In contrast, a "guarantee" is an obligation of
The Ultimate Guide to Indemnity: What It Means to Be Held Harmless Anti-Indemnity Statutes: The most significant statutory development has been the rise of “anti-indemnity statutes,” particularly in the construction industry Many states recognized that powerful general contractors were forcing subcontractors to sign grossly unfair clauses, making them pay even for the general contractor's own ` negligence `
indemnity | Wex | US Law | LII Legal Information Institute indemnity Indemnity is a type of insurance that covers a wide range of damages and losses In the indemnity clause, one party commits to compensate another party for any prospective loss or damage More common is in insurance contracts, in exchange for premiums paid by the insured to the insurer, the insurer offers to compensate the insured for any potential damages or losses Depending on the
Indemnity - definition of indemnity by The Free Dictionary Define indemnity indemnity synonyms, indemnity pronunciation, indemnity translation, English dictionary definition of indemnity n pl in·dem·ni·ties 1 Security against damage, loss, or injury 2 An exemption from liability for damages resulting from specified conduct, as in a