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Indemnity

BREAKING DOWN ‘Indemnity’

An indemnity clause is standard in most insurance agreements, and exactly what is covered and to what extent depends on the specific agreement. Any given indemnity agreement has what is called a period of indemnity. or a specific length of time for which the indemnity is valid. Similarly, many contracts include a letter of indemnity. which guarantees that the contract stipulations will be met by both parties, or else an indemnity must be paid.

Indemnity is common in agreements between an individual and a business (for example, an agreement to obtain car insurance), but it also applies, on a larger scale, to relationships between businesses and government or between governments of two or more countries. Sometimes, a business or an entire industry is forced to take on the costs of larger issues on behalf of the public, such as outbreaks of disease. The New York Times reported on one such situation, the widespread effects of bird flu expenses on the healthcare and agricultural fields, in its article, “Exclusive: U.S. Boosts Bird Flu Emergency Funds as Hormel Cuts Jobs .” The indemnity paid by the government allowed these industries to continue to fight the outbreak.

In a similar story, but on a global scale, The New York Times covered the indemnity demanded from the government due to losses incurred in the fight against Ebola in “Drugmakers May Need Indemnity for Fast-Tracked Ebola Vaccines .” The article highlights the reasons for the claim and the benefits and services the indemnity would provide.

Indemnity Insurance

Indemnity insurance is a way for a company (or individual) to be protected against indemnity claims. This insurance protects the holder from having to pay the full sum of an indemnity, even if the holder is at fault for the cause of the indemnity in the first place. Many companies make indemnity insurance a requirement, as lawsuits are common. Everyday examples include malpractice insurance, which is common in medical fields, and errors and omissions insurance (E O), which protects companies and their employees against claims made by clients, and applies to any given industry. Some companies also invest in deferred compensation indemnity insurance, which protects money they expect to receive in the future.

Like any other form of insurance, indemnity insurance covers the costs of an indemnity claim, including but not limited to court costs, fees, and settlements. The amount covered by insurance depends on the specific agreement, and the cost of the insurance depends on many factors, including past history of indemnity claims.

Property leases also include indemnity clauses. In the case of a rental property, for example, a tenant is typically responsible for damages due to negligence, fines, lawyer fees, and more, depending on the agreement. Read more on indemnity as it relates to leases in the American Bar Association’s publication, “Probate Property Magazine .”

Acts of Indemnity

An Act of Indemnity protects those who have acted illegally from being subject to penalties. This exemption typically applies to public officers, such as police officers or government officials, who are compelled to break the law in order to carry out the responsibilities of their jobs. Often, such protection is granted to a group of people who committed an illegal act for the common good, such as the assassination of a known dictator or terrorist leader.

History of Indemnity

Although indemnity agreements haven’t always had a name, they are not a new concept, as they are a necessary part of ensuring cooperation between individuals, businesses, and governments. As told in The New York Times’ article, “French President Makes Unprecedented State Visit to Haiti ,” in 1825, Haiti was forced to pay France what was then called an “independence debt” when it freed itself from French rule, which was intended to cover the losses that French plantation owners suffered in land and slaves. While the indemnity described in this article is now known to have been unjust, it is just one of many historical cases that show the ways indemnity has been used worldwide.

Another common form of indemnity is the reparations a winning country seeks from a losing country after the conclusion of a war. Depending on the amount and extent of the indemnity due, it can take years and even decades to pay off. One of the most well-known examples is the indemnity Germany paid after its role in World War I. The New York Times article “Ending the War to End All Wars ” was written shortly after these reparations were finally paid off in 2010, almost a century after they were put in place.

The word “indemnity” stems from the Latin root indemnis, meaning “unhurt, undamaged” or “without loss.”

Indemnity may be paid in the form of cash, or by way of repairs or replacement, depending on exactly what is spelled out in the indemnity agreement.

For example, in the case of home insurance, the homeowner pays insurance premiums to the insurance company in exchange for the peace of mind of knowing that he or she will be indemnified if the house sustains damage from fire, natural disasters or other perils specified in the insurance agreement. In the unfortunate event that the home is damaged significantly, the insurance company will undertake to bring it back to its original state, either by means of repairs undertaken by its authorized contractors, or by reimbursing the homeowner for expenditures incurred in association with such repairs.


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About

Short-Term Fellowships fund research exchanges of up to three months between laboratories in eligible countries. The aim is to facilitate valuable collaborations with research groups applying techniques that are unavailable in the applicant’s laboratory. Short-Term Fellowships are not awarded for exchanges between two laboratories within the same country. Short-Term Fellowships are intended for joint research work rather than consultations. The fellowships cover travel plus subsistence of the fellow only and not of dependents.

Eligibility

  • Applicants must be active researchers at any stage in their career with a minimum of one year of research experience at the PhD-student level.
  • EMBO Short-Term Fellowships are awarded for research exchanges between laboratories in EMBC Member States, Associated Member States or Cooperation Partners. EMBO Short-Term Fellowships are not awarded for exchanges between two laboratories within the same country.
  • During 2017, applications for research exchanges involving Chile and one of the EMBC Member Sates or Cooperation Partners will exceptionally be considered.
  • Only in exceptional cases will EMBO Short-Term fellowships be awarded for research visits outside the countries listed above. For such cases, it is essential that a justification be provided why there is no appropriate expertise or technology in EMBC Member States, Associated Member States or Cooperation Partners.
  • Applications from outside EMBC Member States, Associated Member States or Cooperation Partners will not be considered.
  • Applications for the exclusive purpose of training in a technique rather than as a component of a wider research project, will not be considered for funding.
  • EMBO does not consider applications for Short-Term Fellowships to prolong visits begun under other auspices, or as bridging fellowships between, or prior to, long term stays funded by EMBO or other organizations.
  • Applications for fellowships to attend courses, workshops, or symposia will not be considered.

Application

There is no deadline for applications, however it is recommended to apply three months before the proposed starting date. Applications received or completed only after the start of the visit will not be considered.

Applications and supporting documentation (two references, receiving institute acceptance) are only accepted via the online application system.

Evaluation

All applications are examined at the EMBO Fellowship Office to ensure that they are complete and eligible. Receipt of complete applications will be acknowledged via email.

Applications are judged on the following criteria:

  • CV of the candidate, and in particular research experience.
  • Quality of the project to be developed in the host laboratory (novelty, feasibility).
  • The suitability of the host laboratory for the proposed work.
  • Value of the exchange for the laboratories involved (collaboration, co-publication).

As soon as a decision is reached, normally within three to four months from submission of a complete application, applicants are informed promptly.

Benefits

Duration of support

Short-Term Fellowships are intended for visits of 1 week (7 days) up to 3 months (90 days).

Travel costs and stipend

The fellowships contribute towards travel costs and subsistence of the fellow but not of any dependents. The subsistence rate depends on the country being visited.

End of fellowship report

At the end of your fellowship applicants are asked to provide EMBO with a report of their activity at the host institute. The report should be sent to This email address is being protected from spambots. You need JavaScript enabled to view it.

Please note that you need to indicate your ASTF number and your current address on your final report.

The final report must be submitted to the fellowship office within 3 months of completing the research visit. The report should be about two pages, and should summarize the results as well as possible plans for further work to be undertaken. It may include diagrams, charts or illustrations. Upon receipt of the final report, the EMBO office will send a certificate stating the start date and duration of the fellowship, the place the place where it was held, the ASTF number and the title of the project developed.

Applicants must provide a letter signed by their home institution certifying that they have returned to work there for at least 6 months after the completion of the EMBO Short-Term Fellowship.

This email address is being protected from spambots. You need JavaScript enabled to view it.

David del Álamo Rodríguez
Programme Manager
T. + 49 6221 8891 122

Inga Strazda
Long-Term Advanced Fellowships Administrator
T. + 49 6221 8891 561

Ingrid Busby
Short-Term Fellowships Administrator
T. + 49 6221 8891 409

Benardine Ngu
Finance Fellowships Administrator
T. + 49 6221 8891 107

Larisa Bulgatova
Fellowships Administrator
T. + 49 6221 8891 551