Indemnification
Type: noun
Pronunciation: /in-dem-nuh-fuh-kay-shun/
Also spelled or known as: Indemnity
Plural: Indemnification Provisions
Related: Liability
What does Indemnification mean? A contractual obligation requiring one party to compensate another for specified losses, damages, claims, or legal expenses.
Indemnification clauses allocate financial responsibility for certain risks.
Indemnification synonyms: Indemnity, Hold Harmless Provision, Loss Protection
Example sentence: “The agreement included mutual indemnification obligations.”
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