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TeachMeFinance.com - explain Indemnity indemnity -- Obligation of one party to reimburse another party for losses which have occurred or which may occur. another definition... indemnity -- (1) payment for damage, a guarantee against losses. (2) a bond protecting the insured against losses caused by others failing to fulfill their obligations. (3) the granting of exemption from prosecution. (4) an option to buy or sell a specific quantity of stock at a stated price within a given period of time. another definition... Indemnity -- 1. A compensation to make a person whole from a loss already sustained. 2. A contract or assurance by which one engages to secure another against an anticipated loss. Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.