Letter of Indemnity (LOI)
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A Letter of Indemnity (LOI) is a legal instrument that binds the shipper to bear the risk of any losses or harm brought on by a violation of the contract, such as the terms and conditions of a bill of lading.
If the shipment is released with a telex release, **Beeontrade** will require an LOI if the consignee is receiving freight without the presentation of an original bill of lading that has been endorsed.
The LOI allows **Beeontrade** to release the goods to the consignee without the original bill of lading.
- Shipment released with a telex release
- Consignee receiving freight without an endorsed original bill of lading
Yes, ocean carriers may also require an LOI for specific shipments, particularly those involving lithium batteries.
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