Delivery of cargo without bills of lading
It is common in a lot of trades to accept a Letter of Indemnity ("LOI") for non-production of bills of lading. Although it is commonly accepted in many trades, the consequences of non-performance can be extremely serious for Members. Members are therefore reminded to be vigilant and cautious with regard to the practice of accepting LOIs for non-production of bills of lading. The above publication is a reminder of some of the risks and pitfalls with this practice.
Downloads
-
BILLS OF LADING 2017 (1 MB)
13/11/2017
Download PDF
You may also be interested in:
There has been a change in ownership of the E-TITLE electronic trading system and its underlying legal framework to software technology firm, R3; There has been a change in trading name of the E-TITLE electronic trading system to Corda eBL; Members are invited to take note of how the Corda eBL software will operate.
Letters of Indemnity
10/09/2020
This article outlines some key information regarding Letters of Indemnity and addresses some frequently asked questions.
The “Yue You 902” and another matter [2019] SGHC 106
IG Letters of Indemnity
10/09/2020
Members are often asked to accept letters of indemnity (LOIs) from their shippers or charterers in return for the delivery of cargo without presentation of original bills of lading, the delivery of cargo at a port other than that named in the bill of lading (or both) and in various other circumstances.