Letter of Indemnity (LOI)

Letter of Indemnity is a document stating that the shipper will take full responsibility for any harm or loss of goods caused due to a breach of contract.

What is Letter of Indemnity (LOI) ?
Letter of Indemnity is a document obligating the shipper to take responsibility for any damage or loss of goods that may occur due to a breach of contract like the bill of lading.