What does “indemnification” mean?
Indemnification is the act of making another party "whole" by paying any loss another might suffer.
This is usually seen as a clause in a contract where a party agrees to pay for any losses which arise or have arisen already. In many community association documents, the association “indemnifies” the board members and committees, protecting them, to a degree, from any personal loss as a result of a lawsuit. If you have a management contract, you will probably see a similar clause there.
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