indemnification

/in,demnifi'keiʃn/

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Word: Indemnification

Definition:
Indemnification is a noun that refers to the act of providing compensation or payment to someone for a loss, damage, or injury they have experienced. It can also relate to covering someone for trouble or annoyance caused by another party.

Usage Instructions:

• When to use: You can use "indemnification" in legal, financial, or formal contexts. It’s often used in contracts, insurance, and discussions about responsibilities and liabilities.
• How to use: Generally, it is used to describe the process or agreement of compensating for losses.

Example Sentence:

• "The company agreed to provide indemnification to its employees for any legal fees incurred while performing their job duties."

Advanced Usage:

• In legal documents, indemnification clauses are common. They outline who is responsible for covering losses or damages in various situations. For example, "The contract included an indemnification clause that protected the contractor from liability due to negligence."

Word Variants:

• Indemnify (verb): To compensate for harm or loss.
  • Example: "The insurance policy will indemnify you for any damages incurred."
• Indemnity (noun): The security or protection against a financial loss or damage.
  • Example: "The indemnity provided by the insurance ensures that you will not suffer financial loss."

Different Meanings:

• General Meaning: While "indemnification" primarily refers to compensation for loss, it can also imply protection from future liabilities, especially in legal or business contexts.

Synonyms:

• Compensation
• Reimbursement
• Restitution
• Repayment
• Reparation

Idioms and Phrasal Verbs:

• “Make whole”: This phrase is often used in legal contexts to describe the goal of indemnification, which is to restore someone to the position they were in before the loss occurred.
  • Example: "The court's decision aimed to make the plaintiff whole through indemnification."

Conclusion:

Understanding the term "indemnification" is important in contexts like business agreements, insurance claims, and legal matters.

Academic

Noun

1. an act of compensation for actual loss or damage or for trouble and annoyance
2. a sum of money paid in compensation for loss or injury

Synonyms

• damages
• amends
• indemnity
• restitution
• redress