what is a tax indemnity clause
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Smlbizlawâ¢ by smlbizlaw. Tax indemnity in a small business context means Company A compensates Company B for taxes assessed on Company B as a result of Company A’s business activities.This concept often comes into play when two parties enter into a co-marketing agreement and one party is promoting the products of another party.hile you are likely liable for taxes on those commissions, you do not want to be liable for other taxes associated with XYZ’s sales of its products. Including a clause like the one below would protect your business in that scenario: “Tax Indemnity.
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- Look up indemnity in Wiktionary, the free dictionary. An indemnity is an obligation by a person (indemnitor) to provide compensation for a particular loss suffered by another person (indemnitee).n indemnity is distinct from a guarantee, which is the promise of a third party to honor the obligation of a party to a contract should that party be unable or unwilling to do so (usually a guarantee is limited to an obligation to pay a debt).
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Indemnity An indemnity is distinct from a guarantee, which is the promise of a third party to honor the obligation of a party to a contract should that party be unable or unwilling to do so (usually a guarantee is limited to an obligation to pay a debt).
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Indemnity insurance Indemnity insurance. An indemnity insurance policy pays up to a fixed amount when you make a claim, often on a per-day basis. The premiums on health insurance indemnity plans may be lower than on other heathcare plans, but the fixed payments may cover only a portion of your medical bills.ndemnity insurance. An indemnity insurance policy pays up to a fixed amount when you make a claim, often on a per-day basis. The premiums on health insurance indemnity plans may be lower than on other heathcare plans, but the fixed payments may cover only a portion of your medical bills.
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Indemnity While the events giving rise to an indemnity may be specified by contract, the actions that must be taken to compensate the injured party are largely unpredictable, and the maximum compensation is often expressly limited. An indemnity guarantees compensation equal to the amount of loss subject to the indemnity, while a warranty only guarantees compensation for the reduction in value of the acquired asset due to the warranted fact being untrue (and the beneficiary must prove such diminution in value).
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Dependency and Indemnity Compensation Dependency and Indemnity Compensation (DIC) is a tax free monetary benefit paid to eligible survivors of military Servicemembers who died in the line of duty or eligible survivors of Veterans whose death resulted from a service-related injury or disease.
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Creating a Hold Harmless (Indemnity) Agreement Form An Indemnity Agreement is a legal document that transfers risk from one party, the Promisee, to another party, the Promisor. The Promisor promises to indemnify or hold the Promisee harmless against future claims, losses or damages related to a particular activity.
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What is 'Indemnity' Any given indemnity agreement has what is called a period of indemnity, or a specific length of time for which the indemnity is valid. Similarly, many contracts include a letter of indemnity, which guarantees that the contract stipulations will be met by both parties, or else an indemnity must be paid.EFINITION of 'Indemnity'. Indemnity is compensation for damages or loss. Indemnity in the legal sense may also refer to an exemption from liability for damages.
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- IndemnityAn indemnity insurance policy is the kind that will pay a specified dollar amount should a named event occur.A health insurance indemnity plan will usually pay a fixed dollar amount for each day you are in a hospital for example.
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What is 'Indemnity' DEFINITION of 'Indemnity'. Indemnity is compensation for damages or loss. Indemnity in the legal sense may also refer to an exemption from liability for damages.The concept of indemnity is based on a contractual agreement made between two parties, in which one party agrees to pay for potential losses or damages caused by the other party.ndemnity insurance is a way for a company (or individual) to be protected against indemnity claims. This insurance protects the holder from having to pay the full sum of an indemnity, even if the holder is at fault for the cause of the indemnity in the first place.
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Double Indemnity  (film) The term  double indemnity  refers to a clause in certain life insurance policies that doubles the payout in cases when death is caused while riding a railway or other public transport means. Praised by many critics when first released, Double Indemnity was nominated for seven Academy Awards but did not win any. Widely regarded as a classic, it is often cited as a paradigmatic film noir and as having set the standard for the films that followed in that genre.
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Acquisition Indebtedness What is Acquisition Indebtedness? So, lets start at the beginning. Mortgage interest is tax deductible. The first type of mortgage interest defined under the tax code is called “acquisition indebtedness”. As you might expect, this includes the cost of borrowing to acquire your home, but also includes debt incurred to build or substantially improve a residence, as long as the debt is secured by the same residence.
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Indemnity Plans Indemnity Plans are considered to be the most expensive health insurance option, which means higher monthly premium, the deductible to pay annually before the insurance company starts reimbursing you for medical bills, and more paperwork. A deductible amount may be around $250-$500.
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- A borrower who is well qualified to purchase a $200,000 house may not qualify to buy a $400,000 house. The property value for which you can qualify depends on your own personal financial condition, and it also depends on the mortgage terms available in the market at the time you are shopping.
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What is 'Period Of Indemnity' Period Of Indemnity. DEFINITION of 'Period Of Indemnity'. The length of time for which benefits are payable under an insurance policy. Also used to denote the time period for which indemnity or compensation is payable under a business interruption policy. The period of indemnity is usually the most critical component of quantifying the business interruption loss.
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4 Important Facts About Indemnity Health Insurance Indemnity insurance plans pay a portion of your medical costs at the service provider of your choice but may be subject to a deductible. With an indemnity plan, you will pay the first portion of medical costs until you have paid up to the limit of your portion, which is known as the deductible.
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indemnity plan indemnity plan, n 1. a plan that provides payment to the insured for the cost of dental care but makes no arrangement for providing care itself. 2. a dental plan in which a third-party payer provides payment of an amount for specific services regardless of the actual charges made by the provider.
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What Is an Indemnity Bond? An indemnity bond is an insurance contract intended to reimburse the holder of the bond for any loss caused by the named party's conduct.
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Dependency and Indemnity Compensation Dependency and Indemnity Compensation. Dependency and Indemnity Compensation (DIC) is a tax free monetary benefit paid to eligible survivors of military Servicemembers who died in the line of duty or eligible survivors of Veterans whose death resulted from a service-related injury or disease. To qualify for DIC, a surviving spouse must meet the requirements below.
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Indemnity Health Insurance Definition Indemnity health insurance plans typically provide comprehensive medical coverage for a monthly premium. These are called fee-for-service plans, because bills are paid as charges are incurred. Payment is made either to the health care provider or insured person after services are received.
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Indemnities and limitations of liabilities An indemnity is a contractual clause providing that one party will insure the other party against losses arising out of a particular event or events. First, it specifies whether the limitations of liability in the contract apply in the case of a claim under an indemnity clause.
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- Free Indemnity Agreement Forms. Indemnity Agreements are legal documents that allow one party to protect another party against future claims. The agreement can specify the type of situation and the terms of which one party is agreeing to indemnify the other.
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- Standard mortgage clause is a clause in an insurance policy that protects the interest of the lender to recover the proceeds even if the borrower is at fault. This type of clauses is mainly included in fire and casualty insurance.
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Double Indemnity A term of an insurance policy by which the insurance company promises to pay the insured or the beneficiary twice the amount of coverage if loss occurs due to a particular cause or set of circumstances. Double indemnity clauses are found most often in life insurance policies. In the case of the accidental death of the insured, the insurance company will pay the beneficiary of the policy twice its face value.
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- Where the pollution or threat of pollution is entirely caused by a third party’s act, without involving any act of the owner or of the charterer, but the owner or charterer still incurs the penalty/fine under the new Australian law, the indemnity in this clause will not respond to such a situation.ircular 14/12: Australian Pollution Law – Oil Pollution Indemnity clause for penalties and fines.
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- Dependency and Indemnity Compensation (DIC) is a tax free monetary benefit paid to eligible survivors of military Servicemembers who died in the line of duty or eligible survivors of Veterans whose death resulted from a service-related injury or disease.ttention A T users. To access the menus on this page please perform the following steps. 1. Please switch auto forms mode to off. 2. Hit enter to expand a main menu option (Health, Benefits, etc). 3. To enter and activate the submenu links, hit the down arrow.