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International Journal of
Law
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VOL. 6, ISSUE 6 (2020)
The role of the letter of indemnity in transaction cargo by sea
Authors
Dr. Eman Fathi Hassan Algamiel
Abstract
The National legislation and international treaties concentrate on the reservations of cargo during shipment, which permit both parties of the contract of transportation to release the responsibility of one party from one side, and maintain the rights of the second party on other side, whether reservations follows cargo or its owner, so that the data contained in the bill of lading represents an argumentation against its contracting parties, so the carrier usually resorts to include conditions related to the possibility of excluding him from liability. These legislations and agreements permit the carrier to include reservations on the shipped cargo, if he does not have sufficient means to verify cargo investigation in the required manner, and we find that the other party, the shipper, needs to issue a clean bill of lading free of any reservation in order to be able to sell and trade the cargo on the way and acceptance by banks of this type of bills of lading reflects the apparent and good condition of the cargo upon shipment, as the two parties resort to signing a maritime letter of indemnity in which all reservations are stated on the cargo, and also attached by the banking guarantee letter to prove delivery of cargo to the consignee, unless the documentary credit stipulates the conditions or annotations of the amendments which are acceptable for delivery of the cargo.
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Pages:212-222
How to cite this article:
Dr. Eman Fathi Hassan Algamiel "The role of the letter of indemnity in transaction cargo by sea". International Journal of Law, Vol 6, Issue 6, 2020, Pages 212-222
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