duty to indemnify

duty to indemnify

An obligation to compensate another for the other’s loss.

? The duty arises under the terms of an agreement, which governs the extent of the duty. An insurance policy is fundamentally an indemnification agreement, but the duty is often made a part of other contracts as well.


TermBase Contributor
Carl, Chinese legal translator, specializes in translating legal documents pertaining to complex business disputes.