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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.
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
OBJECTIVES After Studying this unit, you should be able to: 1. Describe the procedure of Pre-shipment Credit; 2. Explain various types and procedure of Post-shipment Cr
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
inn moving average method, we need data of atleast a) three years b) four Years c) five years d) six years
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Ask question #Minimum Nivea (www.nivea.com) is Beiersdorf’s (www.beiersdorf.com) largest brand in terms of sales, product and geographical reach. The brand is a market leader in a
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