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The LOI, or letter of indemnity, is not the same as the bill of lading; they serve different purposes. The bill of lading acts as a receipt for shipped goods and a contract between the shipper and carrier, while the LOI is a promise to indemnify a party from potential losses. Understanding this distinction is essential when dealing with shipping transactions to ensure proper documentation, especially if you require a letter of indemnity for release bill of lading at elsewhere location.
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