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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.
4 types of maintaining a database and description
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Actual Total Loss (ATL): An actual total loss may occur in three ways. Firstly when the, insured cargo is physically destroyed when fire in the hold of the ship destroys complet
you purchace a byke so make a assinment with marketing concept
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