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indemnity n

pl: -ties
1 a : security against hurt, loss, or damage
b : exemption from incurred penalties or liabilities
2 a : indemnification
b : something (as a payment) that indemnifies compare contribution

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.