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.
In Argentina all the matters concerning the navigation and trade by water are governed, mainly, by Argentinian Maritime Law (Nº 20,094). Where an issue it is not expressly contemplated therein - and it cannot be solved by analogy - the general law applies. This context entails some degree of ambiguity which affects, also, some of the time bars.
