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Template:Indemnity description: Difference between revisions
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An {{tag|indemnity}} is no ''better'' than a contractual claim. It ''is'' a contractual claim. It does not have a harsher accounting impact. Its [[regulatory capital|capital]] treatment is the same. You enforce it as you would a [[breach of contract]]: by suing the [[indemnifier]] for its failure to pay the indemnified amount. | An {{tag|indemnity}} is no ''better'' than a contractual claim. It ''is'' a contractual claim. It does not have a harsher accounting impact. Its [[regulatory capital|capital]] treatment is the same. You enforce it as you would a [[breach of contract]]: by suing the [[indemnifier]] for its failure to pay the indemnified amount. | ||
Now. Since (if well crafted) it is a claim to pay a pre-defined (or at any rate [[deterministic]]) sum, proving your claim is not hard: prove you have the contract, prove you’ve suffered the loss and—''that’s it''. A well-crafted indemnity is therefore apt for [[summary judgment]]<ref>[[summary judgment]] is a speedy civil court process where you have have a court award your claim without out all that messy and unpleasant business mucking around calling witnesses and so on.</ref>. But careful, [[Mediocre lawyer|counsel]]: aptness for [[summary judgment]] is not a [[magic]] property of all [[indemnities]]: it depends on how well you have crafted yours. | Now. Since (if well-crafted) it is a claim to pay a pre-defined (or at any rate [[deterministic]]) sum, proving your claim is not hard: prove you have the contract, prove you’ve suffered the loss and—''that’s it''. A well-crafted indemnity is therefore apt for [[summary judgment]]<ref>[[summary judgment]] is a speedy civil court process where you have have a court award your claim without out all that messy and unpleasant business mucking around calling witnesses and so on.</ref>. But careful, [[Mediocre lawyer|counsel]]: aptness for [[summary judgment]] is not a [[magic]] property of all [[indemnities]]: it depends on how well you have crafted yours. | ||
=====An {{tag|indemnity}} does ''not'' require a [[breach of contract]]. In fact they should be ''mutually exclusive''===== | =====An {{tag|indemnity}} does ''not'' require a [[breach of contract]]. In fact they should be ''mutually exclusive''===== | ||