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.

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词条贡献者

译者Peter，毕业于亚洲顶尖的高级翻译学院，擅长翻译各种与复杂金融产品相关的法律文件。