/ɪndemnɪti/ – Noun
Definition: 1. sự đảm bảo bồi thường thiệt hại;
2. việc bồi thường thiệt hại;
3. tiền bồi thường;
4. việc tha miễn hình phạt, việc xóa trách nhiệm.
A more thorough explanation: Indemnity is a legal term that refers to a contractual obligation by one party to compensate another party for specified loss, damage, or liability. It is a form of protection against potential financial losses or damages that may arise from a particular event or circumstance. In essence, indemnity agreements are designed to shift the risk of loss from one party to another.
Example: The insurance policy provided indemnity to the policyholder for any losses incurred due to the fire damage to the property.