letter of indemnity
noun [ C ]
ukusplural 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.