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Singapore Branch LOI for Dummies Talk

Posted on Wednesday, May 24, 2017

On 24th May, Mr. Muthu Jagannath gave another lecture on his Dummies Series. A sold out talk on - "LOI for Dummies".

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The talk was part of a wider series - it followed the equally succesfule "BL for dummies". The talk covered the functions, role in the trade, on Letters of Indemnities commonly used in Shipping and International Trade. The focus of the talk was to review the practices prevalent in the trade and the resultant downsides if something were to go wrong.

There was also a lively discussion around some of the cited cased in recent disputes and stand taken by the courts involving LOI's.

After the talk there was also a short session to discuss the practical aspects of the LOIs and how they fit into the practical chartering and operational aspects.

The chartering aspects was addressed by Mr. Punit Oza, General Manager & Vice President, Klaveness Asia and the operational aspects was dealt with by Capt. Jaspreet Chhabra, Head of Operations, Louis Dreyfus. This was more of an interactive session with the idea of linking up the legal, commercial and operational aspects of the use of LOIs for the members, fellows and guests. All three speakers who covered the legal, chartering and operational aspects of LOI's were faced with a barrage of questions from participants who either shared their own personal experiences or wanted to understand if the practices they had been following in their own offices were adequate.

The evening concluded with a networking session. All participants extended their appreciation for the talk and its contents to the organizers.

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