A SURVEY ON LETTER OF INDEMNITY IN THE LAW OF MARINE TRANSPORT

Document Type : Research Paper

Authors

1 Associate Professor of Private Law, Faculty of Law and Political Sciences, University of Tehran

2 MA in Private Law, Faculty of Law and Political Sciences, University of Tehran

3 MA in International Commercial-Economic Law, Faculty of Law and Political Sciences,University of Tehran

Abstract

The letters of indemnity as a type of indemnity contracts are used in goods carriage in international commercial contracts. The correct use of these letters, in addition of assuring the legal security of trade, can accelerate and facilitate the commercial contracts as well as reduce the costs. On the other hand, it is possible to make use of this document as a means for fraud and to threaten the legal security of commercial contracts. Therefore, the validity of these legal documents has been doubted and disagreed on. Thus, it is necessary to carry out a thorough study of the subject. Additionally, it is inevitable to discuss their applications while defining their concepts. As a result, herein the concept of this item is discussed with a descriptive and analytical method, its nature and validity is studied and finally its applications are appropriated.     

Keywords

References

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Law Quarterly
Volume 49, Issue 2
July 2019
Pages 197-216

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