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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.
Purpose of Review The reasons for review of related literature are: 1.To gain a background knowledge of the research topic. 2. To identify the concepts relating to it pote
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Specific Voyage Policy : A Voyage Policy covers the risks that may arise during a journey from specific place to another. The terms and conditions of the insurance are set out in
PROCEDURE FOR MAKING A CLAIM : A claim will arise when any of the risks insured under the policy materialises. If an overseas buyer goes insolvent, the exporter becomes eligible f
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AskWhat are the internal and external criteria of selecting a research problem?
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