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INDEMNITY AND GUARANTEE Indemnity and guarantee are two legal concepts that provide protection to individuals or organizations against financial loss or damage. While they are similar in some ways, there are important differences between the two. Indemnity refers to a legal agreement in which one party agrees to compensate another party for any losses or […]

 INDEMNITY AND GUARANTEE Definition of Indemnity: An indemnity contract is a legal arrangement between two parties in which one party agrees to pay another party for a loss or harm that meets certain requirements and conditions unless other circumstances are specified. It is a form of contingent contract which is characterized by all the essential