C2nounformallawmoney
US/ɪnˈdem.nə.ti/
UK/ɪnˈdem.nə.ti/
a promise to pay for any loss or damage, or the money paid for it
In context
The contract includes an indemnity that covers legal costs if the supplier is sued.
The insurer paid an indemnity of fifty thousand dollars for the fire damage.
Our lawyer asked for an indemnity against any claims from third parties.
Words that go with indemnity
noun + noun
- indemnity clauseRead the indemnity clause carefully before you sign.
- indemnity insuranceDoctors carry professional indemnity insurance.
verb + noun
- provide an indemnityThe seller must provide an indemnity to the buyer.
- seek an indemnityThe buyer will seek an indemnity before signing the deal.
noun + preposition
- indemnity againstHe sought indemnity against future claims.
adjective + noun
- full indemnityThe policy offers full indemnity for stolen goods.
Common mistakes
Incorrect:
The company must indemnity the customer.Correct: The company must indemnify the customer.