Did your dog eat your landlord's lawn furniture? Did your loud partying make your neighbors move out? You may find yourself paying an indemnification, meaning compensation for damages or distress.
- Pronunciation: /ɪn,demnɪfɪ'keɪʃən/
- English description: a sum of money paid in compensation for loss or injury
- Synonyms: amends
- Chinese Translation: 赔偿(pei2 chang2)
- Spanish Translation: la indemnización
- ORIGIN: More often than not, an indemnification is usually arranged up-front as a form of insurance against bad things that might happen. For example, a film crew might agree to indemnification before being allowed to film in a particular location. Indemnification has the general sense of being a preventative action, something that protects against any future losses.
- Should the association get sued, your documentation may aid your defense should indemnification become an issue.
- Other claims were filed by creditors, individuals and parishes seeking indemnification against abuse allegations.
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