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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. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". 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.