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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.
Open Policy : Also known as Floating Policy, it has much in a common with the Open Cover. This policy benefits clients with substantial turnover and a large number of despatches
If asking custoemrs if they have problems, would it be exchange function of marketing?
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INTRODUCTION : Cargo insurance, commonly known as marine insurance, occupies an important position in international business. It provides protection against unanticipated business
what will be the reaction of a buyer about this price changes?
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