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Indemnification (2)

Definition: The act of paying somebody an amount of money because of the damage or loss that they have suffered.

* All seven elements should be in.

1. Purposeful (to emphasize).

2. Considered a necessity to honour pledge.

3. Payment is made to the right beneficiary.

4. Made directly, fully and timely, and/or in accordance with the terms guiding indemnification.

5. Effected with genuine financial instruments and currencies.

6. Amount is considered, by recipient, as adequate recompense. That is, payment will bring a closure to issue that caused damage or loss. In other words, no complaints will arise after collection of indemnity.

7. Thing damaged cannot be repaired and used afterwards by recipient, and his or her loss cannot be recouped later.

See perfect payment (1).

See perfect payment (2).

See perfect indemnity (1).

See perfect indemnification (1).

See perfect recompense.

See perfect money (2).

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