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Meaning of “letter of indemnity” in the English Dictionary

"letter of indemnity" in Business English

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letter of indemnitynoun [C]

uk   us   (plural letters of indemnity)
LAW, INSURANCE a ​legaldocument 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 ​transportinggoods by ​ship: The ​letter of ​indemnityprotects the ​shippingcompany against any ​claims that may arise from the ​issue of a ​clean Bill of Lading.
STOCK MARKET a ​formalletter to ​ask for new ​share certificates (= ​documents) to ​replace the ​originalcertificates 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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“letter of indemnity” in Business English

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