indemnity

Definitions

Accounting

Health Economics

  • (written as Indemnity)
    A sum of money contracted to be paid to one person by another as compensation for a loss whether or not the indemnifier caused the loss.

Law

  • noun a statement of liability to pay compensation for a loss or for a wrong in a transaction to which you are a party
  • noun the right of someone to recover from a third party the amount which is liable to be paid
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