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Calculate the insurance premium at cif plus

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Reference no: EM132988701

Calculate the insurance premium at CIF plus 10% for the following shipment 85 crates of automotive parts valued at US$ 15,000.00

Weight of the shipment is 1,800kg

Volume of the shipment is 8.5 m3

Ocean Freight is US$ 85 /m3/MT

Premium rate is 0.31%

Demonstrate your calculations.

1m3 = 1,000kg

Reference no: EM132988701

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