indemnification

/in,demnifi'keiʃn/

Thân thiện

The company provided indemnification for the customer's damaged property.

Definition

1. Noun:
   • Compensation for loss or damage: The act of providing compensation or security against harm, loss, or damage. It involves making someone whole again after they have suffered a loss.
   • A sum paid as compensation: A specific amount of money paid to cover a loss, injury, or incurred trouble.

Usage and Examples

• As compensation for loss or damage:
  • The contract includes a clause for the indemnification of the client in case of data breach.
  • The court ordered the indemnification of the victims for their financial losses.
• As a sum of money paid:
  • The insurance company provided a full indemnification for the flood damage.
  • He received a substantial indemnification after the wrongful termination lawsuit.

Advanced Usage and Nuances

• Legal and Contractual Context: "Indemnification" is a formal term frequently used in legal, insurance, and business contracts. It refers to the obligation of one party to compensate another for specific types of losses or liabilities.
  • The agreement holds the manufacturer liable for the indemnification of any third-party patent infringement claims.
• "Right to indemnification": A phrase denoting the legal entitlement to be compensated.
  • The director asserted her right to indemnification for the legal costs incurred while performing her duties.

Variants and Related Words

• Indemnify (verb): To compensate someone for harm or loss.
  • The company will indemnify you for any travel expenses.
• Indemnity (noun): Often used interchangeably with "indemnification," but can also refer to the security or protection itself, or a contract providing such protection.
  • He was granted indemnity against future claims.

Synonyms

• Compensation: Something, typically money, awarded to someone for loss, suffering, or injury.
• Reimbursement: Repayment for money spent or lost.
• Restitution: The restoration of something lost or stolen, or compensation for loss or injury.

Related Phrases and Constructions

• "Hold harmless and indemnify": A common legal phrase combining a promise not to hold someone responsible (hold harmless) with a promise to compensate (indemnify).
  • The contractor agreed to hold harmless and indemnify the property owner from any accidents.
• "Letter of indemnity": A document guaranteeing compensation for a potential loss.
  • The bank required a letter of indemnity to release the shipment without the original bill of lading.

Idiomatic Expressions

(Note: "Indemnification" itself is a formal, technical term and is not commonly used in idiomatic expressions. Its related verb, "indemnify," may appear in formal set phrases.)

Học thuật

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

Từ đồng nghĩa

• damages
• amends
• indemnity
• restitution
• redress