Glossary
Terms & Glossaries of Shipping and Trading
LOI (Letter of Indemnity)
A Letter of Indemnity (LOI) in shipping is a document that exempts carriers from any form of liability and possible claims that arise through contractual changes, possible damage to the cargo, additional expenses or other negative impacts.
A Letter of Indemnity (LOI) in shipping is a document that exempts carriers from any form of liability and possible claims that arise through contractual changes, possible damage to the cargo, additional expenses or other negative impacts.
In order to obtain the clean bill of lading, the shipper signs a letter of indemnity to the carrier on the basis of which may be obtained the clean bill of lading, although the dock or mate’s receipt showed that the shipment was damaged or in bad condition.
