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Recoverable Expenses: An insurance company will pay expenses incurred by the insured for recovering loss for preventing it to the cargo. This is, however, subject to two conditions. Firstly, the expenses must be to prevent or minimise the loss due to the insured perils. Secondly the liability of the insurance company will not exceed the sum insured. These recoverable charges are:
a) Extra charges which include survey fees and reconditioning costs;
b) Sue and labour charges, which include all expenses to prevent loss damage to goods for which insurance company would be liable; and
c) Forwarding expenses which may be incurred when voyage is terminated short of destination.
STAGES OF SHIPMENT : For effecting shipment from ports in India, the exporter, generally through his clearing and forwarding agent, has to comply with procedural formalities of th
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what will be the scope for the above study for imc in b2b market domain and SWOT analysis,future growth and prospects of the study
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