Tag Archives: letter of indemnity

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Who should bear responsibility for loss of original bill of lading

Question from a reader..

Greetings Hariesh. I was just wondering, in a case whereby a plane say crashes or disappears, and having some OBLs being couriered, who would be responsible for doing the Letter of Indemnity to facilitate release of cargo?

Question from Lloyd BaMumu Taadira

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Story of a CIF contract and a Letter of Indemnity

This is the Story of a CIF contract and a Letter of Indemnity..

Seller is delivering CIF to Chinese port. The contract has an LOI provision if the original bill of lading should be lost..

The buyer’s bank refuses to make payment without original BOL and will not accept LOI..

What happens next..??

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