Tag: Insurance Policy
Amount of Cargo Insurance Coverage Example under an L/C Payment
The purpose of taking out insurance is to receive compensation in case the goods do not arrive or are damaged.
Therefore, the policy holder must...
All Risks Insurance Policy Under L/C Payments
Letter of credit conditions must be clear and precise without leaving any room for ambiguity.
In terms of insurance documents, the letter of credit must...
Which is the Best Cargo Insurance Type That Should be Selected Against Non-Delivery Risks?
Institute Cargo Clause A (All risks), Institute Cargo Clause B and Institute Cargo Clause C are the main types of cargo insurance types used...
Insurance Documents
Insurance defined by merriam-webster dictionary as "a coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified...
Letter of Credit Documents
After reading this post, you should understand why documentation is very important under letters of credit.
Additionally, most frequently used document links have been supplied...
Insurance Document Discrepancies
It is a common practice in the commercial world to insure goods in transit. Briefly, the following reasons compel traders to contract transport insurance:
Protection...
Insurance Coverage is Insufficient Discrepancy
Marine insurance, contract whereby, for a consideration stipulated to be paid by one interested in a ship or cargo that is subject to the...
All Originals of Insurance Policies Have Not Been Presented Discrepancy
Marine insurance is a type of commercial liability insurance that provides coverage (financial backing) against perils and losses associated with the transportation of goods.
Marine...
Insurance Policy not Issued and Signed by an Insurance Company or its Agent Discrepancy
Cargo insurance, also referred to as a marine cargo insurance, in general, means the insurance on goods being shipped in international trade by vessel, aircraft...
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