15/06/2016 What’s the Difference between ‘INDEMNITY’ & ‘INDEMNIFICATION’?
There is a distinction.
Indemnity = (1) security or protection against contingent hurt, damage, or loss; or (2) a legal exemption from the penalties or liabilities incurred by any course of action.
Indemnification = the action of compensating for actual loss or damage sustained; the payment made with this object.
Here indemnity is used where indemnification is the intended word: “If an injury is caused by defendant’s tort, a sum of money may be awarded as compensation or indemnity