Copyright © Philip M. Parker, INSEAD. Terms of Use.
| Domain | Definition |
Economics | A document which the writer issues to another party agreeing to protect them from liability for the performance of certain acts. 1. In the case of international transportation when a negotiable bill of lading has been issued but is not available for surrender to the carrier when it is desired to take delivery of the shipment, a bank may issue a letter of indemnity to the carrier to persuade them to release the cargo. (A Letter of Guarantee may also be used ). The bank will usually obtain a similar letter from its client to protect itself against the liability it assumes on behalf of the client.2. On export shipments, some carriers may permit shippers to issue letters of indemnity to the carriers in order to secure from them clean bills of lading in place of foul, or to replace lost original bills of lading. (references) |
Source: compiled by the editor from various references; see credits. | |
Crosswords: LETTER OF INDEMNITY |
| Specialty definitions using "LETTER OF INDEMNITY": Trust Receipt. (references) |
| The following statistics estimate the number of searches per day across the major English-language search engines as identified by various trade publications. Hyperlinks lead to commercial use of the expression at Amazon.com. |
| Expression | Frequency per Day |
letter of indemnity | 13 |
| Source: compiled by the editor from various references; see credits. | |
| Language | Translations for "LETTER OF INDEMNITY"; alternative meanings/domain in parentheses. | ||||||||||||||||
Greek | εγγυητική επιστολή αποζημίωσησ. (various references) | ||||||||||||||||
Pig Latin | etterlay ofay indemnityay гарантийное письмо. (various references) teminât mektubu (indemnity bond). (various references) | ||||||||||||||||
Copyright © Philip M. Parker, INSEAD. Terms of Use.
