Letter of Indemnity. In submitting an LOI to correct a transaction, the dealer is assuming all responsibility for the correction of an error in the client's account. This includes any loss to the mutual fund (or investor's account) that may result from the correction. An LOI must contain words to the following effect: "We, XYZ Financial, hereby indemnify AGF from any and all losses, costs, or consequences that may arise as a result of this request". An LOI must come from a dealer's head office and be authorized by one of the firm's signing officers.