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One of the agent's options, when the original bill of lading is not available, is to deliver against a letter of indemnity.  The indemnity does not relieve the carrier of liability to the cargo…

The agent should therefore also ask himself the questions set out in the following Rules: Has your principal given written authority to release and agreed the wording and security? An agent…

Is it counter-signed by a first class bank? A shipowner sought to recover from his agent who had released cargo against indemnities countersigned by the failed BCCI bank.  The agent had…

Has the cargo owner authorised release in writing? A Turkish liner agent was requested by the receiver of 12 containers of frozen meat shipped from Denmark to deliver them without original bills of…

Is it addressed to both you and your principal? One of the Club's Members was recently presented with a perfectly worded letter of indemnity counter-signed by a first class bank, addressed to…

Does it contain adequate financial and time limits? Agents should always be careful to ensure that the letter of indemnity covers all claims and costs which could be incurred.  There is little…

Do the goods itemised correspond exactly to those in the delivery order? A liner agent in Hong Kong was asked to deliver a consignment of frozen chickens against a letter of indemnity…

Is it an original document? A liner agent in Spain delivered five containers of electrical goods on five different occasions against faxed indemnities, which were apparently counter-signed by the…

ITIC is often asked whether a shipbroker is entitled to claim his commission.  It is very important to remember that each case should be considered on its own facts.  Shipbroker cut out…

An English ship broker remitted a balance of hire of US$ 30,000 twice to his European counter- part.  In spite of many promises the European shipbroker failed to pay back the funds and court…