Business and Personal Finance Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
- INDEMNIFICATION AGREEMENT
An agreement in which the borrower promises to protect the bank or reimburse the bank for any damages, claims, costs, penalties, or liabilities that may arise from some problem. For example, the bank may obtain an indemnification agreement to protect itself from costs, penalties, or liabilities arising from environmental contamination or from violations of environmental regulations.Back