In shipping industry, the Letter of indemnity (LOI) is a common tool used by shipowners, ship operators, buyers, sellers and their bankers. Specifically, LOI is a document given by the party requesting some special requirement that deviates from a regulated practice to another to smooth their contractual obligations. However, there are still many doubts around using this document in the practice. This article aims to research the awareness of Vietnamese shipping firms while using this tool. A survey of Vietnamese shipping companies was conducted, then the collected data was analyzed related problems while applying LOI. The findings will not only enrich knowledge but also support Vietnamese shipping firms when using this useful shipping document in the international shipping.

Abstract
1. Introduction
2. Literature review
    2.1. Definition
    2.2. Common scenarios and related risks for using Letter of indemnity
    2.3. The legal of Maritime Letter of indemnity
    2.4 Recommendations from P&I clubs to mitigate risks from using LOI
3 .Research methodology
4. Analysis of applying LOI in shipping practiceof Vietnamese shipping firms.
    4.1 The frequency of using LOIs in the shippingpractice
    4.2 Types of maritime Letter of indemnity used in thepractical shipping
    4.3 The required standard form of LOI
    4.4. The legal issues about using LOIs
    4.5. Risks arising while using LOIs
    4.6. Alternative methods instead of accepting LOIs
5. Conclusion
References

• Minh-Phuong NGUYEN(Faculty of Economic, Vietnam Maritime University, Vietnam)