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	An {{tag\|indemnity}} is an undertaking by an ~~"'''~~[[indemnifying party]]~~'''"~~ to compensate an ~~"'''~~[[indemnified party]]~~'''"~~ for losses the [[indemnified party]] suffers ''beyond'' those arising as a direct consequence of the [[indemnifying party]]'s failure to perform its obligations under the contract containing the [[indemnity]]. Indemnities are generally viewed as onerous obligations. A request for one will often be met with a sharp intake of breath.<br />		An {{tag\|indemnity}} is an undertaking by an [[indemnifying party]] to compensate an [[indemnified party]] for losses the [[indemnified party]] suffers beyond those arising as a direct consequence of the [[indemnifying party]]'s failure to perform its obligations under the contract containing the [[indemnity]]. Indemnities are generally viewed as onerous obligations. A request for one will often be met with a sharp intake of breath.<br />

	An [[indemnity]] is nonetheless a useful back-up to a [[guarantee]] because:		An [[indemnity]] is nonetheless a useful back-up to a [[guarantee]] because: