A Letter of Indemnity (LOI) is a legal document issued by a shipper to indemnify or compensate another party for any damages, harm, or loss incurred due to a breach of contract or specific circumstances. The LOI is typically provided when certain conditions cannot be met or documents are unavailable, often in international trade or shipping scenarios. By issuing an LOI, the shipper assumes responsibility and agrees to compensate the recipient for any resulting liabilities. This document helps facilitate smooth transactions by providing assurance to the receiving party that they will be protected in case of any contractual non-compliance or unforeseen events.

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