One of the most common situations in which a Letter of Indemnity (LOI) might be used is to deliver cargo without presentation of original bills of lading (OBLs), because the bills are not available at the discharge port.
Read moreDetailsAs part of a major initiative to accelerate digitalization in the shipping industry, BIMCO revealed plans to develop an electronic bill of lading standard for the dry and liquid bulk sectors.
Read moreDetailsTimes of economic crisis have historically often flushed out frauds and other unscrupulous dealings which may not otherwise have been discovered in normal economic conditions, note experts from Norton Rose Fulbright.
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