What does loi mean, foreign trade?

In the foreign trade purchase and sale contract, the company LOI has two meanings:

The meaning of letter of intent and letter of intent for cooperation. Many foreign companies generally require the other party to sign a letter of intent for cooperation before cooperation, that is, there is an intention to buy, which cannot be used as a legal basis to show the sincerity of cooperation.

A letter of indemnity is equivalent to a letter of guarantee, which is often used to cancel the guarantee. In the process of unloading, the general captain needs to see the unloading guarantee (which can be provided by both buyers and sellers) before agreeing to unload, so as to prevent the liability problems caused by unloading without the original bill of lading.

Tips: The above information is for reference only.

Reply time: 2022-0 1- 18. Please refer to the latest business changes announced by Ping An Bank in official website.