Study On The Differences Between Letters Of Indemnity At Shipment And Letters Of Indemnity At Discharge

Bills of lading and the letter of credit system not only make international trades cross space and time, but also secure the rights of the contacting parties. However, it is just the importance of bills of lading that makes countries around the world be strict in the bill of lading system, which affects the circulation of goods to some extent.Letters of indemnity, which is called the lubricant oil, emerge and become more and more universal with the development of the international trade. They make positive contribution to the shipping industry and the international trade; however, they bring negative influence as well. Therefore, people pay close attention to their legal validity. To meet the current situation, countries adapt their laws accordingly, but the results are unsatisfactory. In the writer's opinion, the reason for the constant postponement with no decisive results for letters of indemnity is that people tend to take all the letters of indemnity as a whole and to analyze them without sorting.This thesis tries to analyze the nature of letters of indemnity at shipment and that of letters of indemnity at discharge, trying to make clear the reasons for them and to bring in some solutions.This thesis is comprised of four parts. In the first chapter, the writer briefly gives an introduction of bills of lading and letters of indemnity. The importance of bills of lading in the shipping industry and the international trade and letters of indemnity, which is caused by bills of lading, are analyzed.In the second chapter, the writer analyzes the legal nature and legal validity of letters of indemnity at shipment from aspects of their existence value and risks, theoretical analyses and practical perspectives, western countries and China's points of view.The third part is about the analyses of letters of indemnity at discharge. The writer starts from their existence value and risks, and then studies the traditional views and new perspectives.In the last part, the writer alleges that the issue of letters of indemnity at shipment is a legal problem about fraud between shippers and carriers and self-defense of consignees; and that the issue of letters of indemnity at discharge is a problem of documentation. Suggestive solutions for each kind of letters of indemnity are given by the writer in the end.