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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.
Q. Howard Sheth Model of Buying Behaviour? 1. It indicates how multifaceted the whole question of consumer behaviour is. 2. It offers the framework for including various con
what is it?
POST-SHIPMENT FINANCE : It may be defined as "any loan or advance granted or any other credit provided by a bank to an exporter of goods from India from the date of extending the
Importer-Exporter Code Numbe r: No export or import shall be made by any person without an Importer-Exporter Code (IEC) number unless specifically exempted. An application for gran
Definition of Research According to P.M. Cook "Research is an honest, exhaustive, intelligent searching for facts and their meanings for implications with reference to given pr
OBJECTIVES After studying this unit, you should be able to: 1. Explain the meaning of exchange rate; 2. Describe various types of exchange risk; 3. Discuss the meas
Filing Claims : The insured will file claim with the insurance company after meeting the aforementioned requirements. The insurance company is generally contacted immediately on d
explain the dinning phylosophers problem
Ask 1 A Chennai based soft –drink company has proposed to launch a new variant of Soft-drink in three flavours lemon , rose , and orange priced at Rs.6 /- ,Rs.7/- Rs.8 /- in 300ml
INTERNATIONAL CONTRACT TERMS: Since in international transactions, traders are from diverse nations, specific term should be interpreted in a similar way by all the parties concer
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