Definition, Meaning & Synonyms
indemnification
noun
/ˌɪnˌdɛm.nɪ.fɪˈkeɪ.ʃən/
Definition
Indemnification refers to the process of compensating someone for harm or loss that they have incurred.
Examples
- The contract included an indemnification clause to protect against potential lawsuits.
- Indemnification ensures that the party at fault will cover the costs for any damages.
- The company provided indemnification to its employees in case of any work-related accidents.
Meaning
It often involves agreements or legal obligations to protect an individual or entity from financial repercussions.
Synonyms
- compensation
- reimbursement
- reparation
- restoration
