Agribility - Letter of Undertaking

Introduction

This module will provide a comprehensive understanding of what a Letter of Undertaking (LOU) is, when it is used and why. 

Learning Outcomes

By the end of this module, the learner should be able to:

• Explain what a LOU is, detailing its functions and the legal position of a LOU (under English law).
• Discuss and explain the common clauses of a LOU.
• Assess the advantages and disadvantages of using a LOU and explain any limitations of a LOU.
• Have a good overall understanding of how the LOU works in the trade, including the role of the P&I Clubs.