Gratuity vs Indemnity - What's the difference?
gratuity | indemnity |
A reward, service, or payment provided freely, without obligation.
(common usage ) An additional charge placed for services rendered; see also: service fee.
(legal) An obligation or duty upon an individual to incur the losses of another.
Repayment.
(legal) The right of an injured party to shift the loss onto the party responsible for the loss.
A principle of insurance which provides that when a loss occurs, the insured should be restored to the approximate financial condition occupied before the loss occurred, no better, no worse.
