Indemnified

The Jolly Contrarian’s Dictionary The snippy guide to financial services lingo.™ →Go uptown Index — Click ᐅ to expand: Dictionary Tell me more Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.

Indemnified /ɪnˈdem.nɪ.faɪ/ (adj.)
1. Descriptive of one who, when entering a contract, fears the sky might fall in on her head, and wishes to have someone to sue should it do so. One who believes herself to be, therefore, immune from existential threat, thanks to the existence of a piece of paper. Thus, delusional; a paperist.
2. (Rare) Descriptive of a merchant who has identified a contingent cost to the performing the contract whose benefit accrues entirely to the other party, and who has persuaded that other party to bear it should it arise. For example, a custodian, who wishes to pass to its client any unexpected tax consequences it suffers as a result of having legal title to its client’s custody asset.

See also

• Don’t take a piece of paper to a knife-fight
• Chicken licken
• Consequential loss
• indemnity
• indemnified party