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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.
INSURANCE CLAIMS : When there is a loss, the insured is to proceed to claim the loss recovery from the insurer. The cardinal principle about insurance claims is that the insured
Particular Loss : There are two types of partial losses as explained below: General Average: Sometimes a ship owner either sacrifices some cargo the ship is carriage or incur
Explain the steps involved in a research process.
Once the buyer has recognised a problem they search for information on products and services that can solve that problem. Belch and Belch (2007) describe that consumers undertake b
OBJECTIVES After studying this unit, you should be able to: 1. Explain the objectives of exchange control; 2. Describe the principal provisions of Foreign Exchange Regula
Data Processing Error: After the have been collected they are to be processed. This involves coding the responses, recording the codes, etc so that data collection can be transform
State the term- Production Research assists you in an enterprise to decide in the field of production on:- What to produce How much to produce When to produce
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Examine a range of general or marketing strategy options (a) Discuss a variety of general and marketing strategic options which are available to your organisation and evaluate t
Question 1 Explain the concept of Service mapping with example Question 2 Write a short notes on- Factors that influence customer expectations Pricing strategies
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