- letter of indemnity
- 1) A letter stating that the organization issuing it will compensate the person to whom it is addressed for a specified loss. See also indemnity2) A letter written to a company registrar asking for a replacement for a lost share certificate and indemnifying the company against any loss that it might incur in so doing. It may be required to be countersigned by a bank.3) A letter written by an exporter accepting responsibility for any losses arising from faulty packing, short weight, etc. , at the time of shipment. If this letter accompanies the shipping documents, the shipping company will issue a clean bill of lading, even if the packages are damaged, enabling the exporter to negotiate the documents and receive payment without trouble.
Big dictionary of business and management. 2014.
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letter of indemnity — UK US 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… … Financial and business terms
Letter Of Indemnity — 1. A letter guaranteeing that contractual provisions will be met, otherwise financial reparations will be made. 2. A letter requesting replacements for lost shares from a company s treasury. 1. The principal behind a letter of indemnity is the… … Investment dictionary
letter of indemnity — /ˌletər əv ɪn demnɪti/ noun a letter promising payment as compensation for a loss … Marketing dictionary in english
letter of indemnity — /ˌletər əv ɪn demnɪti/ noun a letter promising payment as compensation for a loss … Dictionary of banking and finance
indemnity — in‧dem‧ni‧ty [ɪnˈdemnti] noun indemnities PLURALFORM 1. [uncountable] INSURANCE protection against loss or damage, especially in the form of an official written promise to pay for any losses or damage: • Every full time employee at our firm… … Financial and business terms
indemnity — 1) An agreement by one party to make good the losses suffered by another, usually by payment of money, repair, replacement, or reinstatement. This is the function of indemnity insurance 2) An undertaking by a bank s client, who has lost a… … Big dictionary of business and management
indemnity letter — document which states the obligation to cover future expenses … English contemporary dictionary
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disclosure letter — 1) A key document in any private acquisition. It is prepared by the seller s solicitors and makes general and specific disclosures regarding the warranties (warranty) contained in the acquisition agreement. If a seller fails to disclose a… … Law dictionary