An Introduction to Maritime Letters of Indemnity 101
The use of letters of indemnity by shipowners, charterers, and other participants in the world of international trade remains prevalent despite a series of high-profile disputes having come before the Courts in recent years concerning their operation.
There is now a substantial body of caselaw considering how the letters of indemnity based on the International Group of P&I Clubs standard form wording are to be construed. It is important for those giving and receiving letters of indemnity, and those advising such parties, to have a firm grasp of the relevant principles.
The webinar will cover the commercial context to letters of indemnity, followed by a recap of the major cases in this area, to include The Laemthong Glory, The Jag Ravi, The Bremen Max, and The Songa Winds. Finally, delegates will be brought up to date on the latest major letters of indemnity case to make it to the Commercial Court - The Miracle Hope.
What You Will Learn
This webinar will cover the following:
- The standard form text of the International Group of P&I Clubs letters of indemnity and what it means (by reference to the relevant case law above)
- The commercial context to the use of letters of indemnity, including the consequence of their use to a shipowners’ P&I cover
- Who can claim under a letter of indemnity in a charter chain situation?
- How to enforce a claim under a letter of indemnity by injunction if the issuer is refusing to honour it
- Time bars and The Songa Winds in the Court of Appeal
This pre-recorded webinar will be streamed at 12:30pm on Thursday 25th March 2021 and will remain available to view by delegates who have registered by then for 90 days.