| The appearance and application of letter of indemnity in sea transportation have been the focus of people's attention and consideration in sea transportation theory and practice. In one respect, it brings great efficiency and economic value to international trade; in another respect, it causes disorder to the international trade, and makes cheating convenient in trade. People have various views about whether it should exist or not and whether it is valid or not. This article emphasizes much on its necessity and significance of existence, analyzes its legal nature and validness, and tries to propose and promote some new laws and rules, with the aim to promote the development of international trade and sea transportation.
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