Indemnity vs. Guarantee

Indemnitynoun

Security from damage, loss, or penalty.

Indemnitynoun

(legal) An obligation or duty upon an individual to incur the losses of another.

Indemnitynoun

Repayment; compensation for loss or injury.

Indemnitynoun

(legal) The right of an injured party to shift the loss onto the party responsible for the loss.

Indemnitynoun

(insurance) A principle of insurance which provides that when a loss occurs, the insured should be restored to the approximate financial condition occupied before the loss occurred, no better, no worse.

Indemnitynoun

Security; insurance; exemption from loss or damage, past or to come; immunity from penalty, or the punishment of past offenses; amnesty.

Indemnitynoun

Indemnification, compensation, or remuneration for loss, damage, or injury sustained.

Indemnitynoun

protection against future loss

Indemnitynoun

legal exemption from liability for damages

Indemnitynoun

a sum of money paid in compensation for loss or injury

Indemnity

Indemnity is a contractual obligation of one party (indemnifier) to compensate the loss incurred to the other party (indemnity holder) due to the acts of the indemnitor or any other party. The duty to indemnify is usually, but not always, coextensive with the contractual duty to or .

Guaranteenoun

Anything that assures a certain outcome.

Guaranteenoun

A legal assurance of something, e.g. a security for the fulfillment of an obligation.

Guaranteenoun

More specifically, a written declaration that a certain product will be fit for a purpose and work correctly; a warranty

Guaranteenoun

The person to whom a guarantee is made.

Guaranteenoun

(colloquial) A person who gives such a guarantee; a guarantor.

Guaranteeverb

To give an assurance that something will be done right.

Guaranteeverb

To assume responsibility for a debt or other obligation.

Guaranteeverb

To make something certain.

Guaranteenoun

In law and common usage: A promise to answer for the payment of some debt, or the performance of some duty, in case of the failure of another person, who is, in the first instance, liable to such payment or performance; an engagement which secures or insures another against a contingency; a warranty; a security. Same as Guaranty.

Guaranteenoun

One who binds himself to see an undertaking of another performed; a guarantor.

Guaranteenoun

The person to whom a guaranty is made; - the correlative of guarantor.

Guaranteeverb

In law and common usage: to undertake or engage for the payment of (a debt) or the performance of (a duty) by another person; to undertake to secure (a possession, right, claim, etc.) to another against a specified contingency, or in all events; to give a guarantee concerning; to engage, assure, or secure as a thing that may be depended on; to warrant; as, to guarantee the execution of a treaty.

Guaranteenoun

a written assurance that some product or service will be provided or will meet certain specifications

Guaranteenoun

a pledge that something will happen or that something is true;

Guaranteenoun

a collateral agreement to answer for the debt of another in case that person defaults

Guaranteeverb

give surety or assume responsibility;

Guaranteeverb

make certain of;

Guaranteeverb

promise to do or accomplish;

Guaranteeverb

stand behind and guarantee the quality, accuracy, or condition of;

Guaranteenoun

a formal assurance (typically in writing) that certain conditions will be fulfilled, especially that a product will be repaired or replaced if not of a specified quality

Guaranteenoun

something that ensures a particular outcome

Guaranteenoun

an undertaking to answer for the payment or performance of another person's debt or obligation in the event of a default by the person primarily responsible for it.

Guaranteenoun

a thing serving as security for a guarantee.

Guaranteenoun

less common term for guarantor

Guaranteeverb

provide a formal assurance, especially that certain conditions will be fulfilled relating to a product, service, or transaction

Guaranteeverb

provide a guarantee for

Guaranteeverb

provide financial security for; underwrite

Guaranteeverb

promise with certainty

Guarantee

Guarantee is a legal term more comprehensive and of higher import than either warranty or . It most commonly designates a private transaction by means of which one person, to obtain some trust, confidence or credit for another, engages to be answerable for him.