/ˈlɛtər ʌv ˌɪndɪmˈnɪti/ – Phrase
Definition: thư cam kết bồi thường
A more thorough explanation: a written guarantee given by a third party on behalf of another party to a contract that if that party does not meet its contractual obligations, the third party will cover any resulting costs
Example: The bank is entitled to require a letter of indemnity from the municipality before acting on a “stop payment” order or paying a duplicate cheque.