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3 LETTERS OF INDEMNITY AND BILLS OF LADING

Maritime Letters of Indemnity

3 LETTERS OF INDEMNITY AND BILLS OF LADING INTRODUCTION 3.1 Having outlined in the previous chapter how the existing balance brought about by the use of the bill of lading is altered where a letter of indemnity is employed, this chapter illustrates and considers the impact of the use of letters of indemnity on the different parties utilizing bills of lading, namely shippers, receivers, carriers and banks, some of which, in turn, may be sellers, buyers, owners and charterers.

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