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English definition of “letter of indemnity”

letter of indemnity

noun [C]
 
 
(plural letters of indemnity)
LAW, INSURANCE a legal document in which a person or company promises to pay for any loss that happens as a result of them doing a particular task. Letters of indemnity are often used when transporting goods by ship: The letter of indemnity protects the shipping company against any claims that may arise from the issue of a clean Bill of Lading. → Compare indemnity bond
STOCK MARKET a formal letter to ask for new share certificates (= documents) to replace the original certificates that you have lost: Where a certificate is lost, stolen or missing, completion of a letter of indemnity is required.
(Definition of letter of indemnity from the Cambridge Business English Dictionary © Cambridge University Press)
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