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INDEMNITY & INDEMNIFICATION

15/06/2016 What’s the Difference between ‘INDEMNITY’ & ‘INDEMNIFICATION’?

e-legal lesson

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 [fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][read indemnification] for the loss.”[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

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