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Besttradesolution welcomes users contribution to Trade Wiki. If you have more detail on the subject and confident to explain the subject matter better, please feel free to update the information.It may take some time to appear your update on the site while we process any submission.Please do not copy information directly from other sites. Thank you for your contribution.
Letter Of Indemnity (LOI) [Last Updated by: admin on 2012-01-01]
A document commonly used in international trade to allow a carrier to release goods to a receiver who is not yet in possession of the bill of lading (exceedingly common in the oil trade, for example). The letter of indemnity is, in essence, a guarantee which the receiver provides to the carrier assuring the carrier that he will not suffer any financial loss by having released the goods in the absence of a bill of lading. Also referred to as a steamer guarantee.